Aparna Thyagarajan, Chief General Manager at the Securities and Exchange Board of India (SEBI), participated in a session titled Regulation as Market Design: Enabling Women in Climate & Tech on Day 1 of the Indian Venture and Alternate Capital Association (IVCA) Conclave 2026.

The session featured insights from Shyamala Gopinath, Former Deputy Governor, Reserve Bank of India; Nupur Garg, Founder, Winpe; and Sumesh Girhotra, Deputy Head, Capital Team at the British High Commission. The discussion explored how thoughtful policy frameworks, access to capital, and institutional support can collectively foster a more inclusive investment ecosystem and accelerate women-led innovation in sectors critical to India’s sustainable growth.

The discussion examined how regulatory frameworks can act as an important enabler in shaping inclusive capital markets and fostering greater participation of women in emerging sectors such as climate and technology. The session explored the role of policy design, access to capital, and institutional support in building a more supportive ecosystem for women entrepreneurs, investors, and leaders driving innovation in these sectors.

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“There is an urgent need for disaggregated data on gender diversity. You can’t fund what you can’t see — the numbers need to be put out there, and disclosure is key,” she said.

She further emphasised that strengthening policy frameworks and improving access to capital can help unlock greater opportunities for women-led enterprises, while also supporting the development of innovative solutions in areas critical to India’s sustainable and technology-driven growth.

“SEBI has permitted tranching in a limited manner, and government and large multilateral institutions can come in as junior investors in blended finance structures. Blended structures could be explored as an alternative to raise capital for sustainable enterprises, where the government can take the lead and private markets can follow public capital,” Aparna Thyagarajan added.

The IVCA Conclave 2026 is the landmark 15th edition of IVCA’s flagship platform for India’s alternate capital segment. The annual forum draws policymakers, regulators, investors, and industry leaders to discuss issues that are central to the evolving landscape of alternate assets in India.