After CEPA, UAE funds busy chasing India’s next Unicorns: Neelesh Bhatnagar of NB Ventures

After CEPA, UAE funds busy chasing India’s next Unicorns: Neelesh Bhatnagar of NB Ventures

Dubai: Indian expats in the UAE are doubling back into property back home and gold in a big way - but there’s a wider swathe of assets that could tempt investors. For some NRIs, that means chasing possibilities in the next big ‘unicorn’ (a $1 billion valuation) from India. Neelesh Bhatnagar, the Dubai-based Managing Director of NB Ventures, says investors should not only be looking at possibilities in one direction. Because with the UAE-India CEPA (Comprehensive Economic Partnership Agreement), investment opportunities have truly become a two-way flow. “On the one hand, CEPA will give an opportunity to Indian startups to expand into the Middle East and benefit from (what’s available in) the region,” said Bhatnagar, who had been a director at the highly diversified Landmark Group before. “On the other side, regional institutional funds will be more confident to invest in Indian businesses that have presence locally as well. It’s a win-win for both.” Bhatnagar is on the ball about two-way funding flows. Post-CEPA, there has been a distinct spike in UAE and Gulf institutions - public and private - trying to pick and choose where to park their India-bound funds. CEPA went live on May 1 last, and in