 "Sovereign Wealth Fund Institute lines up opportunity for startups funding")
Sovereign Wealth Fund Institute (SWFI) on Wednesday announced that it will hold its Family Office Round Table (FORT) North America 2023 in Dallas, Texas, on 10 October 2023. As part of the event, SWFI will give an opportunity for Indian startups seeking strategic partnerships and Series-B institutional capital to pitch their entrepreneurial ideas to globally renowned sovereign wealth funds (SWFs), family offices, private equity (PE) and venture capital (VC) investors.
FORT North America 2023, which is the largest family offices conference in Dallas, will witness the convergence of innovation, public and private wealth transcending geographical boundaries. To be held at the iconic venue of The Star, the global headquarters of the Dallas Cowboys (the world's most valuable sports team), the event will bring investors and entrepreneurs to the financial capital of Texas. As Texas is home to one of the largest Indian-American communities residing in the US, the local ecosystem also holds a deep understanding of Indian startups.
As per SWFI estimates, global SWFs doubled down on their direct investments into India at US dollars 6.7 billion in 2022, as against US dollars 3.7 billion in 2021, indicating confidence in the country's prospects. India is expected to become the world's third-largest economy by 2030, as per a Morgan Stanley report released late last year. The country has conditions in place for an economic boom fuelled by offshoring, investment in manufacturing, energy transition and advanced digital infrastructure, as per the report. It is expected that sovereign wealth funds will support this growth through their investments and know-how in Indian startups.
Of the six global startups that will be presenting their five-minute elevator pitches at FORT North America 2023, two will be Indian, representing the fast-growing startup ecosystem in the country. Startups that have surpassed the US dollars 100 million valuation mark post-Series-A and exhibit a reliable business strategy will be presented the opportunity to present their pitches. Through the network of global investors present at the event, successful startups will be enabled with support beyond capital, such as international market access, strategic expertise, etc.
Since its inception, SWFI has been hosting successful global forums to bring together the world's largest investors, SWFs, pensions, foundations, large family offices, and industry leaders to facilitate knowledge sharing and impactful deal-making. Earlier in May 2023, SWFI hosted its Global Wealth Conference in London at the historic Guildhall and the House of Commons. In line with this tradition, this event in Texas will feature keynote speeches and panel discussions delving into topics such as 'Private Equity Trends and Opportunities for 2023 and Beyond', 'Capital Convergence: Family Office Deal Flow and Institutional Co-investment Landscape', 'The Nexus of Private Capital and Sovereign Wealth Funds and Public Funds', among others.
Announcing FORT North America 2023, Lakshmi Narayanan, chairman, SWFI, said, "As a critical industry liaison, we at SWFI look forward to helping catalyse cross-border collaborations across the ecosystem through FORT North America 2023. Against the backdrop of the landmark 91-acre headquarters of the Dallas Cowboys, the event will serve as a platform to help drive meaningful growth and partnerships in the ecosystem. Indian startups will receive the unique opportunity to pitch to an audience of leading investors, family offices, endowment funds and policymakers."
FORT North America 2023 will also feature the Global Order of Outstanding Disruptors (GOOD) Fellow Awards recognition, internationally acclaimed for acknowledging individual contributions to creating impact with wealth, knowledge and power. Some of the past GOOD Fellow Award winners include Lord Meghnad Desai and actor Vivek Oberoi, among others.