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Platinum Equity makes first India bet; Flipkart ropes in former SoftBank exec

VCCircle

VCCircle · 1y ago

Platinum Equity makes first India bet; Flipkart ropes in former SoftBank exec

Platinum Equity Advisors has made its first investment in India, acquiring a majority stake in Mumbai-based pharmaceutical company Inventia Healthcare. The US-based buyout fund's stake in the company is valued at Rs 2,500 crore ($300 million). In other news, Flipkart, an e-commerce platform owned by Walmart, has hired former SoftBank executive Vikas Agnihotri as its General Manager of Corporate Development. Agnihotri will be responsible for leading mergers and acquisitions, investments, and partnerships for Flipkart.

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Premji Invest Ropes In Former Lightspeed Exec Manjot Pahwa

Inc42 · 1y ago

Premji Invest Ropes In Former Lightspeed Exec Manjot Pahwa

Pahwa is a former partner at Lightspeed India, where he worked from March 2022 to January 2024. During his career, he held various positions at Google, Stripe, and Lightspeed, gaining over nine years of experience in product management, engineering, and leadership. Lightspeed recently saw the departure of three experienced partners, Rajesh Ramaiah, Rahul Garg, and Atul Gupta.

IPO-bound Gaja names ex-Sebi chief Sinha as non-exec chair

Livemint

Livemint · 2m ago

IPO-bound Gaja names ex-Sebi chief Sinha as non-exec chair

Gaja Capital Alternatives AMC, a homegrown private equity firm, is planning to raise ₹500 crore through an IPO, making it the first standalone private equity firm in India to list on exchanges. The firm has appointed former SEBI chief U.K. Sinha as non-executive chairman and restructured its board of directors in preparation for the IPO.

Multiples PE enters private credit, ropes in former Deutsche Bank exec

VCCircle

VCCircle · 10m ago

Multiples PE enters private credit, ropes in former Deutsche Bank exec

Multiples Alternate Asset Management, a private equity firm based in Mumbai, has entered the private credit market. The firm has hired former Deutsche Bank executive Rahul Chawla as managing director of its credit strategy. Chawla brings over 25 years of experience in financing for financial sponsors. This move by Multiples comes as the firm considers a continuation fund of around $300 million to retain its stake in Vastu Housing Finance and APAC Financial Services Ltd. The firm's portfolio includes companies like Moengage, Licious, Acko, and Veritas Finance.

Motilal Oswal Financial ropes in former Axis Cap exec to head investment banking

VCCircle

VCCircle · 10m ago

Motilal Oswal Financial ropes in former Axis Cap exec to head investment banking

Former Axis Capital executive, Kartik Juneja, has been appointed as the Managing Director of Motilal Oswal Financial Services' investment banking division. Motilal Oswal Financial Services is a diversified financial services company that also operates a private equity arm called Motilal Oswal Alternates. Juneja's appointment aims to strengthen and lead the company's investment banking services.

Former SoftBank managing partner Lydia Jett joins Flipkart board

Economic Times

Economic Times · 1y ago

Former SoftBank managing partner Lydia Jett joins Flipkart board

Lydia Jett, former SoftBank managing partner, has joined the board of Indian e-commerce giant Flipkart as an independent director. This marks her second term on Flipkart's board, with her previous tenure representing SoftBank. Jett played a pivotal role in SoftBank's investment in Flipkart and subsequently sold its stake to Walmart in 2018. Flipkart recently closed a funding round with a $35-36 billion valuation and has been focusing on profitability and expanding its delivery services across India. There have also been hints of a potential IPO for Flipkart.

US' Platinum Equity looking to foray into India with new office, bulge bets

VCCircle

VCCircle · 1y ago

US' Platinum Equity looking to foray into India with new office, bulge bets

US private equity firm Platinum Equity is planning to enter the Indian market by establishing an office and making investments in the country's private equity sector. The firm, which manages $48 billion in assets globally, is exploring potential deals in India as part of its expansion strategy. Platinum Equity is currently in the process of building its India office and aiming to take advantage of investment opportunities in the country's growing economy.

Binny Bansal's Opptra ropes in Ranjit Babu as CEO

Inshorts · 5m ago

Binny Bansal's Opptra ropes in Ranjit Babu as CEO

Founded by Binny Bansal, Opptra, has roped in Ranjit Babu, former director of consumer electronics at Amazon India as CEO of Opptra’s electronics and general merchandise vertical. Ranjit resigned from Amazon in December 2024. Interestingly, Opptra has brought in senior executives from Amazon, Flipkart, and Swiggy to drive its operations.

Exclusive: SuperOps ropes in former Freshworks exec Javeeth Ahamed as VP of Sales

YourStory

YourStory · 7m ago

Exclusive: SuperOps ropes in former Freshworks exec Javeeth Ahamed as VP of Sales

SuperOps, an AI SaaS IT management platform, has appointed Javeeth Ahamed, former Freshworks executive, as vice president of sales. Ahamed's experience in scaling sales organizations and his people-first approach align with SuperOps' vision of disrupting the IT and MSP landscape. Founded in 2020, SuperOps offers a unified platform for IT management, and has secured significant funding to support its global expansion. Ahamed is excited to join and contribute to SuperOps' growth journey.

Ranjan Pai’s Claypond Capital ropes in former Fireside exec

VCCircle

VCCircle · 1y ago

Ranjan Pai’s Claypond Capital ropes in former Fireside exec

Claypond Capital, the family investment office of Ranjan Pai, Chairman of Manipal Group, has appointed a former Fireside Ventures executive as the firm increases its startup investments. The family office was established after Temasek acquired a $2 billion stake in Manipal Group.

Neo Asset to foray into PE with new fund; ropes in ex-TPG NewQuest exec

VCCircle

VCCircle · 1y ago

Neo Asset to foray into PE with new fund; ropes in ex-TPG NewQuest exec

Neo Asset, the wealth management arm of Neo Group, is planning to expand into the private equity (PE) sector by launching a new fund. The company has previously raised funds for private credit and infrastructure funds. In this move, Neo Asset aims to diversify its investment offerings and cater to a wider range of investors. To support this venture, the company has recruited Nitin Agarwal, a former executive from TPG NewQuest, to join their team.

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