Providing investors with an opportunity to invest in late stage private disruptive companies prior to IPO.

COMPANY SYNOPSIS

Paytm is India’s largest and fastest growing fintech company. Its mobile payment solution is transforming the commerce market in India, attracting over 370 million users and processing more than $70 billion in annual transactions with approximately 12 million merchants on its platform. Commanding approximately 70% of the Indian mobile payments market, Paytm is well positioned to grow exponentially, in an addressable market expected to grow 5x and reach $1 trillion by 2023, according to Credit Suisse. The market for mobile payments alone is expected to pass $250 billion by 2023, from just $20 billion in 2018. On the back of its mobile payment platform, Paytm is fast becoming one of the largest financial players in India, a market of 1.4 billion people, and an economy growing at more than 7% per year. In what is becoming one of the leading growth markets globally, Paytm is on track to become one of the fastest growing fintech companies in the world.

Corporate Info
Headquartered in Noida, India. 13,000 employees in 6 global offces.

Major Investors
Ant Financial, Softbank, Group, Alibaba, Berkshire Hathaway, SAIF.

Recent Deal Valuation & Info
$11 billion (Berkshire Hathaway, August 2018). Raised to date: $2.8 billion.

Recent News
Berkshire Hathaway investment (Aug 2018). Approximately $1 billion in cash reserves.

Net Revenue ($ Billions)
Gross Profit and Margin ($ Billions)
Booking Statistics
Net Revenue ($ Billions)
Gross Profit and Margin ($ Billions)
Booking Statistics
Valuation & Estimated Returns

*Expected Sourcing Valuation:
~$15.8 billion

*Expected IPO Listing Date:
Mid 2022

*Expected IPO Valuation:
$38 billion (Bear) to $60 billion (Bull)

*Estimated Gross Total Return:
+141% to +280%

*Based on current and expected growth trajectories, Paytm could reach $4.1 billion in annual revenues during 2022. Adjusting for possible share dilution during future rounds and IPO, a sales/multiple of 14x is used for a bull scenario, 11x for a base scenario and 9x for a bear scenario. The value of an investment is subject to risk, including the possible loss of the principal invested. Please refer to the disclaimer on the following page.

Investment Return Scenario Analysis
Valuation & Estimated Returns

*Expected Sourcing Valuation:
~$15.8 billion

*Expected IPO Listing Date:
Mid 2022

*Expected IPO Valuation:
$38 billion (Bear) to $60 billion (Bull)

*Estimated Gross Total Return:
+141% to +280%

*Based on current and expected growth trajectories, Paytm could reach $4.1 billion in annual revenues during 2022. Adjusting for possible share dilution during future rounds and IPO, a sales/multiple of 14x is used for a bull scenario, 11x for a base scenario and 9x for a bear scenario. The value of an investment is subject to risk, including the possible loss of the principal invested. Please refer to the disclaimer on the following page.

Investment Return Scenario Analysis
Net Revenue ($ Billions)
Gross Profit and Margin ($ Billions)
Booking Statistics
Investment Return Scenario Analysis
Valuation & Estimated Returns

*Expected Sourcing Valuation:
~$15.8 billion

*Expected IPO Listing Date:
Mid 2022

*Expected IPO Valuation:
$38 billion (Bear) to $60 billion (Bull)

*Estimated Gross Total Return:
+141% to +280%

*Based on current and expected growth trajectories, Paytm could reach $4.1 billion in annual revenues during 2022. Adjusting for possible share dilution during future rounds and IPO, a sales/multiple of 14x is used for a bull scenario, 11x for a base scenario and 9x for a bear scenario. The value of an investment is subject to risk, including the possible loss of the principal invested. Please refer to the disclaimer on the following page.

Investment Return Scenario Analysis
$1T
India’s digital payment market by 2023
(Morgan Stanley)
$200B
Inida’s e-commerce market by 2026
(Morgan Stanley)
280%
Estimated Gross Total Return

INVESTMENT DETAILS

  • Class H will invest exclusively in PayTM shares in the secondary market prior to an IPO.
  • The Investment Manager leverages key relationships to purchase shares from employees, off-market sellers, and prior-round investors.
  • The shares will be held in an SPV owned by the IPO Fund, Class H.
  • Upon successful exit/IPO, the fund will sell its holdings and distribute the net proceeds back to investors. In-kind share delivery is also possible.

INVESTMENT TERMS

Fund Share Class:

Target Class BB Size:

Minimum Investment:

Management Fee:

Performance Fee:

1st Closing:

Liquidity:

Custodian (liquidity):

Transactional Bank:

Administrator:

Auditor:

US & International investors

$11 million

$500,000

One-time 3%

20 %, charged on realized profits

July 12th, 2019

Upon exit/IPO

Pershing, LLC

CIBC Bank USA

Opus Fund Services:

KPMG:


CONTACT

This is not an offer to sell or solicitation of an offer to buy interests in any fund or investment program sponsored by Trade Capital Markets (TCM) Limited.

Important Information: This presentation is provided for information purposes only and is not an offer to sell or solicitation of an offer to buy interests in any fund or investment program sponsored by TCM. Such offer or solicitation to buy limited partnership interests in any fund or investment account is made only through a Fund’s confidential private placement memorandum and related purchase documentation, and subject to the terms and conditions o contained in such documents and in such Fund’s operative agreements. TCM makes no representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein. Certain information contained herein, including summaries, prices, quotes, or statistical information, has been obtained from published and non-published sources prepared by third parties. While such information is believed to be reliable, TCM does not assume any responsibility for the accuracy or completeness of the information. The value of an investment is subject to risk, including the possible loss of the principal invested. Past performance is not indicative of future results. TCM and its members, offcers or employees may own options, rights or warrants to purchase shares of any security mentioned.