IDBI Capital Markets - Assistant Vice President/Deputy Vice President - Alternative Investment Fund

ORGANISATION: IDBI Capital Market and Securities
DESIGNATION: Assistant Vice President/Deputy Vice President - AIF
NO. OF VACANIES: 1
REPORTING TO: Senior Vice President & Head - Alternate Investment Fund (AIF)
EXPERIENCE RANGE: 15-18 years' experience in AIF
CRITICAL EXPERIENCE:
- Strong understanding of AIF fund raising and investor engagement
- Hands-on experience across investment lifecycle: sourcing, execution, monitoring, and exits
- Knowledge of SEBI AIF Regulations and compliance frameworks
- Strong analytical, financial, and execution skills
- Stakeholder management and communication capability
- High ownership, attention to detail, and governance mindset
- Hands-on experience in SEBI AIF regulatory compliance
ESSENTIAL QUALIFICATIONS:

- Preferably a qualified CA or MBA and preferably CS and LLB
- Mandatory: NISM Series XIX-C - Alternative Investment Fund Managers Certification (valid and compliant with SEBI requirements)
LOCATION: Cuffe Parade, Mumbai
JOB DESCRIPTION / RESPONSIBILITIES:
To lead the full investment lifecycle-from origination and evaluation to portfolio monitoring, value creation, and exits. The DVP will ensure top-tier Investor Relations (UHNI, Family Offices, Institutions), robust financial reporting, and strict adherence to the SEBI AIF framework, including the management of Category I, II, and III specific constraints (leverage, valuation, custody).
Key Responsibilities:
1. Investment Origination & Execution:

(Additional/Desirable) Origination: Source proprietary deal flow via founders, bankers, incubators, and industry bodies. Build and maintain funnel scorecards and pipeline MIS.

Evaluation:

- Lead preliminary screening (market sizing, unit economics, governance checks) and direct comprehensive due diligence (financial, tax, legal, ESG, technical).
Valuation & Deal Structuring:

- Develop investment theses and valuation models (DCF, comps, precedent transactions).

- Adhere to SEBI's standardized valuation framework (MF norms for listed; IPEV guidelines for unlisted).

- Negotiate term sheets and definitive documents, ensuring robust protections (liquidation preference, anti-dilution, covenants).
Closing:

- Ensure custodian appointment and complete dematerialization of investments per SEBI timelines (mandatory demat requirement effective Oct 1, 2024).
2. Portfolio Monitoring & Value Creation:
- Post-Investment Management: Establish governance plans, including board representation, KPI tracking, and compliance calendars.
- Monitoring: Conduct monthly/quarterly operating reviews to track covenants and identify early-warning triggers.
- Value Add: Drive professionalization, cost/productivity initiatives, and strategic channel expansion within portfolio companies.
- Reporting: Manage data rooms and investor reporting packs (DPI, RVPI, TVPI, XIRR). Ensure performance benchmarking aligns with IVCA-recognized agencies (NSE/CRISIL/Preqin).
3. Divestments & Exits:
(Additional/Desirable): Evaluate and execute exit strategies, including strategic sales, secondary/tertiary buyouts, IPOs, or structured exits.
- Prepare exit memos, manage timelines, and ensure fair value realization and distribution waterfalls strictly per the PPM and fund documents.
4. Investor Relations & Fundraising:
- Relationship Management: Manage relationships with LPs, including UHNIs, Family Offices, and Institutions (Insurance, Banks, DFIs).
- Fundraising Support: Develop fundraising collateral (PPM, DDQ, track record case studies) and lead diligence Q&A.
- PPM Compliance: Ensure the PPM follows the SEBI template and manage the annual PPM audit for submission to the Trustee/SEBI.
- Servicing: Manage capital calls, distributions, and investor queries, ensuring consistency with Quarterly Reporting (QAR).
5. Finance, Tax & Accounts Oversight:
- Financials: Oversee NAV computation, capital account statements, and fee/carry accruals. Coordinate statutory audits and valuation sign-offs.
- Tax Compliance: Manage tax compliance and investor communication regarding pass-through status for Category I/II AIFs (Sections 115UB & 10(23FBA)) and business income taxation. Ensure accurate TDS deductions under Section 194LBB.
6. Regulatory Compliance & Governance (SEBI):
- Co-ordinate with Legal Team: Regulatory Adherence: Ensure ongoing compliance with SEBI (AIF) Regulations, 2012 (investor thresholds, corpus, continuing interest).
- Reporting: execute quarterly regulatory reporting on the SEBI SI Portal (AIF, schemes, KMPs, leverage limits).
- AML/KYC: Implement SEBI's AML/CFT Master Circular (Client Due Diligence, STR reporting to FIU-IND).