Venture Capitalist Avik Ashar: VC Is How Asia’s Richest Future-Proof Their Businesses

If venture capital underperforms the public markets, is it still worth the investment? For Avik Ashar, the answer is yes—but not for the reasons you think. Avik, a Principal at Riverwalk Holdings, an India-focused VC firm, argues that most people misunderstand how venture capital works and how to fairly evaluate VC fund performance.Venture capital, he explains, isn’t just about chasing unicorns or short-term IRRs. It’s a strategic investment tool, especially in Asia, used by family offices and conglomerates not only for returns but also for M&A, R&D, and market expansion. In markets like India, venture capital is helping industrial groups future-proof their businesses while tapping into innovation. He also highlights how India’s maturing public markets and mutual fund sector are making early-stage investing and startup exits far more viable than in places like Southeast Asia, where liquidity is still limited.He breaks down:– Why VC returns vs public markets often look misleading—unless you know how to analyze them– How family offices in India are using venture funding for strategic acquisitions– Why M&A is finally taking off in Asia—and what that means for founders– The key differences between venture capital in India, Southeast Asia, and the U.S.– Why India’s public markets are becoming a critical exit path– How startup exits work in markets without strong IPO pipelines– Why Southeast Asia’s VC boom from 2014–2018 underperformed– What Gen Z needs to understand about building in a noisy, AI-native world– How venture capital vs private equity differs in terms of outcomes, strategy, and timelinesHe also shares an important reminder for our age of endless short-form content: “The most expensive thing you can give today isn’t your time—it’s your attention.”00:00 Intro00:33 Why invest in venture capital?01:01 How venture returns work03:01 Venture as an R&D and acquisition pipeline04:11 The outlier nature of VC returns05:11 Why family offices invest in venture05:52 Examples of conglomerate acquisitions in India09:43 Differences in VC ecosystems: US, Singapore, and India16:29 Do family-backed VCs perform better in India?16:50 Riverwalk Holdings’ experience in India18:22 Maturity of India’s financial ecosystem for startups23:59 Where will venture gains come from?27:51 Indian conglomerates embracing startups28:52 Challenges of building companies in Asia30:22 Advice for young people in an uncertain world32:44 Tech’s share of the US market cap38:04 Staying focused amidst noise40:57 Advice for recent graduates42:24 Outro