Private equity firm New Silk Route Growth Capital (NSR) has promoted Arvind Malhan as partner, a press release stated.
Malhan joined the firm in 2010 as principal and contributed to managing investments such as VRL Logistics, Varsity Education Management, Cafe Coffee Day, Ortel Communications, 9X Media and Nectar Lifesciences.
Prior to joining NSR, Malhan served as executive director at JP Morgan Private Capital Asia and director of TVG Capital Partners, the Asian private equity firm focused on telecom, media and information technology investments across Asia, where he started the firm’s India office and served on the boards of portfolio companies.
“Arvind has played an important role in investing in and managing portfolio companies such as VRL Logistics and Varsity Education Management,†said Parag Saxena, founding general partner and CEO at NSR.
Malhan holds an MBA from the Wharton School of the University of Pennsylvania and a bachelor’s degree in Electrical Engineering from the Massachusetts Institute of Technology.
NSR is investing out of its $1.4 billion fund and has seen four complete/partial exits in 2015 so far. Three of its portfolio companies—VRL Logistics, Ortel Communications and Cafe Coffee Day—have opted for IPOs though investor response has been tepid. In September, the PE firm sold stake in commodity broking and wealth management firm Destimoney Enterprises to financial services provider Onelife Capital Advisors.
So far, NSR has invested about $1 billion across 16 investments in India.
