Movers and Shakers | Helion’s Dhruv Kapoor quits, Warburg Pincus loses executives
Key movement of people in the Indian investment landscape
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Mumbai: Mint brings to you your monthly dose of key movement of people in the Indian investment landscape, primarily spanning the world of private equity, venture capital and investment banking.
Dhruv Kapoor of Helion quits to spearhead Sistema Asia Fund: Last month, Dhruv Kapoor of Helion Ventures left the VC fund to head Sistema Asia Fund as its managing director. Kapoor served Helion for eight years as vice-president, from July 2008 to July 2016, at its Gurgaon office and assisted Helion with 18 investments in technology and non-tech sectors. Russia-based Sistema floated a $50 million Asia Fund, Sistema Asia Fund Pte Ltd, in July 2015 to invest in start-ups in India and Asia. The Singapore-based fund will make direct investment in private and public companies in India.
While at Helion, Kapoor was the board observer on several of Helion’s portfolio firms such as MoEngage, a user analytics and engagement platform for mobile apps; Wooplr, a fashion discovery app; CrownIt, an app that provides cash-back deals at restaurants and retail outlets; Railyatri, a train travel tech start-up; and dating app Trulymadly. The Russian conglomerate has appointed Andrey Tebernin, former head of Sistema’s investment portfolio and former executive board member, to oversee the funds operations in India. Emails sent to Sistema went unanswered. Calls and text messages sent to Dhruv Kapoor did not elicit any response either.
Warburg Pincus loses mid-level executives: The private equity space in India has witnessed churn at the mid-level management space as several principals at large buyout funds have moved to their Indian peers.
Prashant Kumar, who quit Warburg Pincus in January as principal, joined ChrysCapital in March and focuses on the consumer and manufacturing sectors. During his stint at Warburg Pincus, Kumar focused on the consumer, manufacturing and infrastructure sectors. Kumar also worked at Karsch Capital Management, a New York-based hedge fund, and at SUN Capital, an emerging markets-focused private equity firm. An MBA from Wharton, University of Pennsylvania, Prashant began his career as a consultant with McKinsey & Co. in India.
Sumit Sinha, another principal at Warburg Pincus, quit the US fund after a five-year stint. Sinha is joining Renuka Ramnath-led PE fund, Multiple Asset Management, soon. Both Sinha and Multiples Private Equity confirmed the move.