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Alok Mittal has been elevated as a Managing Director at Canaan Partners' India office. Mittal joined the India (New Delhi) office of Canaan, the Silicon Valley based global venture capital fund with $2.4 billion under management, in March 2006 as an executive director. He has been instrumental in making the firm's investment in BharatMatrimony (co-invested with Yahoo in an $8.5 million round) and outsourced tech support company iYogi ($3.1 million). Mittal has been focusing on digital media, wireless, software and services companies.

Naresh Malhotra has quit as the CEO of private equity backed coffee chain Cafe Coffee Day. Malhotra joined the chain - what is called as India's Starbucks - six years ago and has been instrumental in growing the company to a $100 million entity currently. Malhotra is exploring options in private equity or retail industry, report Business Standard. Cafe Coffee Day is the retail chain of Bangalore-based Amalgamated Bean Coffee Trading, owned by V Siddhartha.