Mid-market private equity firm Samara Capital said it has appointed former Lifestyle International executive M Vasanth Kumar as a senior adviser as part of its entrepreneur-in-residence programme.
Kumar will be advising multiple portfolio companies in the consumer domain, the firm said.
“Kumar has had an excellent track record in conceptualising businesses from the scratch and then building them at scale,” Sumeet Narang, founder and managing director, Samara, said.
Narang said that Kumar’s previous corporate experience would help the companies in Samara’s portfolio.
Kumar has worked previously at firms such as Lifestyle International, Max Fashions India, Madura Garments, Hindustan Unilever and TTK Prestige, a media statement said.
He was the managing director of Lifestyle International till June 2020. Prior to that, Kumar was executive director at Max Fashions where he oversaw expansion and conceptualisation of the Easybuy retail format.
“Their (Samara’s) passion to work like a business owner is something which is unique, and I believe that my knowledge and experience of making large profitable businesses can further the growth and profitability of relevant companies,” Kumar said.
Samara was founded in late 2006 by former top Citigroup India executives Sumeet Narang and Gautam Gode. It makes investments from two funds and typically puts $15-100 million in a single transaction. It raised $263 million for its first fund and $300 million for its second.
Samara has backed consumer companies such as Blue Heaven and Nature’s Essence. https://www.vccircle.com/samara-capital-strikes-back-to-back-deals-in-personal-care-segment/
It also partnered with Amazon to acquire Aditya Birla’s retail chain More. https://www.vccircle.com/samara-amazon-to-acquire-aditya-birla-group-s-retail-chain-more/