Pre-budget 2023 Quote on behalf of Mr. Ankur Shrivastava (Founder & Managing Partner, Momentum Capital)

Quote on behalf of Mr. Ankur Shrivastava (Founder & Managing Partner, Momentum Capital):-

“We hope that the government will consider exempting FDI in unlisted companies from capital gains taxes. Currently, the LTCG tax rate on holdings over 24 months is 10% without indexation on FDI. Abolishing this tax like many developed countries have done, like US & Singapore, would spur further FDI inflows into the country and help support economy builders at the earliest stages.

In addition, we hope the ESOP regime is made more friendly for early employees & tax timing is rationalized. The current income tax outlay required when the employees exercise the ESOPs make them unattractive & unaffordable for talent. Delaying the tax ask to when the sale event takes place would enable many more employees to benefit monetarily and help distribute wealth beyond the larger shareholders.”

Momentum Capital:

Momentum Capital is a global micro-VC firm with a presence in Canada, US & India, and invests in Indian technology startups at the pre-seed and seed stages in climate, SaaS, health, and consumer spaces. With a strong set of advisors, investors, and partners having deep investing experience spread across continents & verticals, the firm supercharges global network leverage for Indian founders at the earliest stages.

Ankur Shrivastava, Founder & Managing Partner: Momentum Capital

Ankur Shrivastava is a highly experienced startup investor and is the co-founder of Globevestor, a pioneering cross-border startup investment platform. He led Globevestor’s investments in over 40 startups, including Zoomcar, Springboard, Agnikul, and others across SaaS, tech, health, climate, consumer, and other diverse spaces. His past portfolio firms have together raised about $500 million in capital and are collectively valued at over $2.5 billion now.