IIT Alumni Capital for Startup India
Pan IIT Fund is a SEBI-registered Category I Alternative Investment Fund registered on 7 May 2019, managed by PanIIT Foundation (CIN: U93010DL2018NPL334471), a Section 8 not-for-profit company incorporated in December 2018, based at 202, 2nd Floor, Nilgiri Apartments, 9 Barakhamba Road, Connaught Place, New Delhi 110001. The fund was launched on 1 April 2020 as a social venture fund under the IIT Alumni Council's broader initiative to catalyse a mega fund ecosystem of INR 21,000 crore for IIT-backed startups and social enterprises. The PanIIT Fund is a registered social fund under Category I of SEBI's AIF Regulations 2012, targeted at channelling IIT alumni capital and co-investment into technology-driven startups, deep-tech ventures, and social enterprises. Satish Mehta, an IIT Bombay alumnus, B.Tech (Chemical Engineering) and MMS from JBIMS, has been the key architect of the fund — his extensive regulatory experience spans the development of SEBI's VC Regulations 1996, creation of SIDBI, and structuring of SME stock market platforms.
Satish Mehta
SEBI Contact Person & Director, PanIIT Foundation
Satish Mehta is a director of PanIIT Foundation and IIT Alumni Council (both at Barakhamba Road, New Delhi) and is the SEBI-registered contact person for the Pan IIT Fund. He holds a B.Tech in Chemical Engineering from IIT Bombay and an MMS in Operations Research from JBIMS, Mumbai University. From 1987 to 2002 he worked at A.F. Ferguson & Co. Since 2003, he has been active in the impact and fund management space, serving on investment committees and boards of several private equity funds as compliance and regulatory head. He was instrumental in developing SEBI's VC Regulations (1996), the creation of SIDBI, SME stock market platforms, and the government trust for SME loan guarantees. He helped set up PanIIT India in 2002 and participated in the first PanIIT Conclave (2004).
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