Homegrown mid-market private-equity firm TVS Capital Funds on Monday said it has promoted Gaurav Sekhri to the role of a partner as part of its ongoing efforts to institutionalise operations.
At TVS Capital, Sekhri has been leading the B2B (business-to-business) services vertical for the past six years as the firm’s principal. He spearheaded investments in supply chain solutions company Leap India, fintech unicorn Digit Insurance and supply-chain startup Increff.
“This is part of our continued efforts to institutionalise TCF and take the fund to the next level. I am confident that Gaurav’s expertise in B2B product software and logistics and his wealth of experience will continue to help TVS Capital in its focus on supporting next-generation entrepreneurs, to build successful businesses,” said Gopal Srinivasan, chairman and managing director of TVS Capital Funds.
Sekhri comes with experience in private equity and public market investments, having worked with companies such as Piramal Group, SBI Global Markets, ICICI Bank and Bank of America.
TVS Capital Funds, which was founded in 2007 by Srinivasan, has raised around Rs 3,500 crore so far and continues to invest in tech-driven businesses in financial and B2B services. The firm is currently investing Rs 1,550 crore from its third vehicle. The third fund's investor base comprises several domestic investors, including development finance institutions (DFIs) like Sidbi, Nabard, and others such as HDFC Life, SBI Life, Bajaj Allianz, and New India Assurance.
So far, the firm has invested more than 60% of the total corpus, Anuradha Ramachandran, managing partner, investments, at TVS Capital told VCCircle in October last year. “We can comfortably make three or four more investments from the third fund,” she added.
Meanwhile, the firm is planning to raise around $600 million (around Rs 5,000 crore) for its fourth fund. It has been strengthening its leadership team with strategic additions such as Anuradha Ramachandran, as the managing partner – investments, and Krishna Ramachandran, as the managing partner and COO (chief operating officer).
In February this year, Walmart-owned digital payments platform PhonePe raised an additional $100 million in primary capital from TVS Capital Funds, Tiger Global and Ribbit Capital at a pre-money valuation of $12 billion.
