Norbert

insert witty, largely delusional bio here

[Norbert @norbert_]

Humbled to be selected as one of the "40 under 40" Investment Professionals in India by the @IAAIF_INDIA. Good to see some friends on the list, and I look forward to getting to know the rest.

#AISI2018 #AISI18 #AI40Under40 #40under40

Details: https://t.co/oloGoxDJZJ

[Norbert @norbert_]

Truth

[Muthukrishnan Dhandapani @dmuthuk]

I've repeated many times not to buy unlisted shares. They are sold at unrealistic prices. The intermediaries earn upto 5% on such sale. Not only that you cannot sell those shares till 6 months after IPO. This means you cannot take advantage of initial popup too.

Tata Capital is a well respected name. It's IPO was hugely anticipated. The price in the unlisted market was Rs.1100. Now the listing price is around 310. More than 70% loss for those who bought in unlisted markets.

HDB Financial Services is backed by a well reputed private bank, HDFC. The price in the unlisted market was Rs.1525. It's IPO listing was Rs.740. More than 50% loss for those who bought in unlisted markets.

The pre IPO placement is projected as the privilege offered to elite. The general thumb rule is whatever is offered as exclusive for elite is usually a ripoff.

Price discovery happens relatively better after listing. In the unlisted space, it is usually hype, false narratives, ripoff and above all huge commissions.

And in worst case scenarios, some of the stocks bought in unlisted space never gets listed almost leading to wiping out off capital.

[IVCA @IndianVCA]

𝐃𝐢𝐫𝐞𝐜𝐭 𝐚𝐧𝐝 𝐆𝐏-𝐥𝐞𝐝 𝐒𝐞𝐜𝐨𝐧𝐝𝐚𝐫𝐢𝐞𝐬: 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐋𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 𝐢𝐧 𝐈𝐧𝐝𝐢𝐚’𝐬 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭𝐬

Direct and general partner (GP)-led secondaries are influencing deal-making in India by creating new liquidity pathways and attracting specialised capital. These evolving structures are shaping the next phase of India’s private markets, reflecting broader shifts in how capital is deployed and managed across the ecosystem.

At Indian Venture and Alternate Capital Association (@IndianVCA) Secondaries Conference 2025, a panel on “Direct and GP-led Secondaries: Reshaping Private Markets” explored these themes and the market outlook, highlighting the rise of secondaries-focused GPs and the growing sophistication of transaction approaches within the Indian investment landscape.

The session brought together leading voices to discuss how innovative secondary market strategies are redefining investment dynamics, enhancing liquidity solutions, and expanding opportunities for GPs and alike.

The panellists included:
• Koon Kiat Poh, Partner, Axiom Asia Private Capital
• Norbert Fernandes, Partner, Kenro Capital
• Satish Mugulavalli, Co-Founder, Hissa by RuleZero
• @AshishFafadia, Partner, @BlumeVentures
• Rohit Bhayana, Co-CEO and Co-Founder, @OisterGlobal
• Shivani Bhasin Sachdeva, Founder and Chief Executive Officer, India Alternatives Investment Advisors

#IVCA #SecondariesConference #PrivateEquity #AlternativeInvestments #IndiaInvestments

[IVCA @IndianVCA]

Indian Venture and Alternate Capital Association (@IndianVCA) is pleased to welcome Norbert Fernandes, Partner, Kenro Capital, to IVCA Secondaries Summit 2025.

📍 Mumbai
📅 21st August 2025
🕤 09:30 AM

Organised by IVCA, the summit will convene leading voices across the fund management, capital market, and regulatory spheres to explore the opportunities and challenges shaping India’s growing secondaries market.

As secondaries gain momentum, the conference will foster dialogue on liquidity solutions, fund restructuring, and market innovation, bringing together stakeholders who are committed to building a dynamic and efficient private capital ecosystem.

Join us as we unlock new possibilities for India’s secondaries and alternative investment future.

📧 For more details or partnership enquiries, contact:
[email protected] | [email protected]

#IVCA #SecondariesConference #PrivateEquity #AlternativeInvestments #IndiaInvestments

[IVCA @IndianVCA]

𝗦𝗵𝗮𝗽𝗶𝗻𝗴 𝗜𝗻𝗱𝗶𝗮’𝘀 𝗦𝗲𝗰𝗼𝗻𝗱𝗮𝗿𝗶𝗲𝘀 𝗙𝘂𝘁𝘂𝗿𝗲

India’s secondaries market is gaining significant momentum—fuelled by growing investor appetite, a maturing fund environment, and a widening base of institutional capital.

Indian Venture and Alternate Capital Association (@IndianVCA) Secondaries Conference 2025, taking place on 21st August in Mumbai, will bring together a cross-section of key stakeholders, including fund managers, limited partners (LPs), general partners (GPs), secondary investors, legal advisers, and policymakers, for focused discussions on the evolving dynamics of secondary transactions in India.

𝗙𝗼𝗰𝘂𝘀 𝗮𝗿𝗲𝗮𝘀:

• How secondaries are transforming India’s private market landscape
• Structures, pricing, and execution trends in LP-led deals
• The growing relevance of GP-led transactions and related regulatory and tax considerations
• Key regulatory considerations shaping continuation funds

Join us for a day of sharp insights, strategic conversations, and actionable takeaways as we map the next chapter of India’s secondaries evolution.

📧 For more details or partnership enquiries, contact:
[email protected] | [email protected]

@AshishFafadia @norbert_

#IVCA #SecondariesConference #PrivateEquity #AlternativeInvestments #IndiaInvestments

[Alex Vacca @itsalexvacca]

BREAKING: MIT just completed the first brain scan study of ChatGPT users & the results are terrifying.

Turns out, AI isn't making us more productive. It's making us cognitively bankrupt.

Here's what 4 months of data revealed:

(hint: we've been measuring productivity all wrong)

[IVCA @IndianVCA]

In this edition of #TheContext by the Indian Venture and Alternate Capital Association (@IndianVCA), Norbert Fernandes, General Partner, @KenroCapital, unpacks the growing significance of secondary transactions in India’s evolving private market landscape.

As India’s alternative investment ecosystem evolves, secondary transactions are gaining momentum as an important tool for portfolio optimisation and liquidity management. Beginning with early-stage venture capital and progressing to larger private equity transactions, the secondary transaction process highlights the upside of recycling capital, offering flexibility for both limited partners and general partners, and prolonging holding periods where necessary.

The blog highlights the legal and tax intricacies that stakeholders must navigate, particularly in cross-border deals involving multiple jurisdictions. The Indian private markets landscape continues to deepen where secondaries are no longer just a niche solution; they are becoming a strategic lever for fund managers and investors alike.

For more insights on how secondaries are reshaping capital flows and exit strategies in India’s private markets, read the full blog here: https://t.co/9pFMvKz7K7

#TheContext #IVCABlogs #Secondaries #PrivateEquity #VentureCapital #AlternativeInvestments #Liquidity #CapitalRecycling #PEVC #MaximumIndia

[Nouriel Roubini @Nouriel]

A 3-way game of chicken is being played between Trump, Powell and Xi. The strike price for the Powell put is much lower than for Trump put. And Xi’s put strike live is even lower; thus Xi will let Trump bleed for now in this retaliation Nash game. This is a 3 dimensional chess game and Trump is totally clueless. He can’t even play a one dimensional chess game. And superior chess and poker players like Putin and Xi are already out manipulating Trump on Ukraine, Taiwan and other geo-political issues. Trump was always a naive amateur thinking he could use his carpet bagger Art of the Deal cheap threats and bluffs to complex geopolitical and geoeconomic issues. But Trump 1.0 had a bunch of smart heavyweight advisors who could guardrail him against his worst instincts. This time Trump 2.0 has mostly a bunch of wimpish sycophantic yes men “advisors” who not only don’t dare to cross him but rather give him pseudo-intellectual fodder and justification to his worst destructive policy instincts on trade! So unless he starts to think and be rational again, backpedal and de-escalate very fast - as Bessent and Miran suggested to him early on - we end up with a massive US and global recession and financial meltdown this year!

[Norbert @norbert_]

Buy the dip they said
Buy blue chips they said
WELL OK!

[Norbert @norbert_]

The Coldplay memes are way more entertaining than their music 😂

[Julian Shapiro @Julian]

THREAD: 10 significant lies you're told about the world.

On startups, writing, and your career:

[Norbert @norbert_]

@InvestmentBook1 Is amazing_buy a legitimate seller?

[Norbert @norbert_]

@ValueInvestorAc Buffett

[Norbert @norbert_]

Some things never change 🤦🏻‍♂️

OK, so what's the best alternative?

[Norbert @norbert_]

@rpomumbai @passportsevamea @DrSJaishankar @MEAIndia @CPMumbaiPolice Passport website says Megwadi police station has submitted its report a while back, and it's now stuck with the SP office for the last 2 weeks!

[Norbert @norbert_]

@passportsevamea @rpomumbai @DrSJaishankar @MEAIndia @CPMumbaiPolice

No response, no visibility, no line of sight. All the documentation is complete. The only thing we know is it is stuck and noone knows why. Really frustrating.

[Vani Chawla @vanichawla]

@passportsevamea @rpomumbai @DrSJaishankar @MEAIndia @CPMumbaiPolice

It's been 1.5months with the passport, how much longer will it take at SP Office?

[Vani Chawla @vanichawla]

SUBMITTED passport app FOR my daughter on 2aug for renewal at PSK Andheri E, Mumbai.

Just had police verification, and have been told that it'll take 45d more. File number BO2078326299023. I'm clueless here.
Please help #psk #passportseva @passportsevamea

[Norbert @norbert_]

@trashhead00 @rushtheband @bigwreckmusic @NickJMusic @Alanis @Nickelback This deteriorated quickly

[Norbert @norbert_]

Canada is home to some of my all-time favorite bands /guitarists : @rushtheband, @bigwreckmusic, @NickJMusic, @Alanis.

But there's also @Nickelback, so it cancels out

[Arindam Paul @arindam___paul]

BTL/Trade Marketing is often not done in a data driven way in most organizations

But market share gets decided at the offline point of purchase. And you need an efficient BTL engine to win here

Taking equivalents from digital, I have explained the inputs/metrics to win. Read on

[Norbert @norbert_]

@hunterhunteranu @sahil_vi @alvinfoo You blocked me over this? Amusing :)