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 federal government will think about exempting FDI in unlisted firms from capital features taxes. Currently, the LTCG tax fee on holdings over 24 months is 10% with out indexation on FDI. Abolishing this tax like many developed international locations have carried out, like US & Singapore, would spur additional FDI inflows into the nation and assist help financial system builders on the earliest levels.

In addition, we hope the ESOP regime is made extra pleasant for early staff & tax timing is rationalized. The present revenue tax outlay required when the workers train the ESOPs make them unattractive & unaffordable for expertise. Delaying the tax ask to when the sale occasion takes place would allow many extra staff to learn monetarily and assist distribute wealth past the bigger shareholders.”

Momentum Capital:

Momentum Capital is a worldwide micro-VC agency with a presence in Canada, US & India, and invests in Indian expertise startups on the pre-seed and seed levels in local weather, SaaS, well being, and shopper areas. With a powerful set of advisors, traders, and companions having deep investing expertise unfold throughout continents & verticals, the agency supercharges world community leverage for Indian founders on the earliest levels.

Ankur Shrivastava, Founder & Managing Partner: Momentum Capital

Ankur Shrivastava is a extremely skilled startup investor and is the co-founder of Globevestor, a pioneering cross-border startup funding platform. He led Globevestor’s investments in over 40 startups, together with Zoomcar, Springboard, Agnikul, and others throughout SaaS, tech, well being, local weather, shopper, and different various areas. His previous portfolio corporations have collectively raised about $500 million in capital and are collectively valued at over $2.5 billion now.