London-headquartered private equity player and impact investor Lightrock, which counts WayCool, DeHaat, Shiprocket and MediBuddy amongst its portfolio companies in India, has roped in a former British International Investment executive to spearhead its local operations. The firm has also set up another office in the country.
Lightrock has onboarded Samir Abhyankar as a partner and head of India operations, it said on Friday. Abhyankar, who was previously managing director and head of financial services group at BII, takes over from Kartik Srivatsa and Vaidhehi Ravindran, who together helmed Lightrock India’s operations for about five years.
During his four-year stint at BII, Abhyankar also held other key managerial positions. With over two decades of experience, he has held many notable roles, including that of a partner at TPG and Satya Capital.
“His [Samir’s] leadership and extensive experience will be instrumental in identifying new strategic investment opportunities and building our presence in a critical market for Lightrock,” said Pal Erik Sjatil, managing partner and chief executive officer of Lightrock.
In another development, the PE investor has established a new office in Mumbai to cement its operations in the country. It already has one office in Bengaluru. “With the establishment of our new office in Mumbai, we are solidifying our position in India. Lightrock aims to partner with a new generation of entrepreneurs by providing them with the resources and expertise necessary to help their companies scale, go global, and make a meaningful impact on the wider world," the company said in a statement.
Lightrock’s portfolio companies in India include Porter, Chalo, Kauvery Hospitals, Aye Finance, and Scaler. It invested in rooftop solar company SolarSquare in January and topped up its investment in Eupheus Learning in December. It also exited Ummeed Housing Finance last July, harvesting $40 million and realizing about 3.9x of the capital invested in the company.
*This article has been updated to modify Lightrock's India activities.
