Former Omidyar Network head Jayant Sinha gets elected from Hazaribagh
Former Omidyar Network India head Jayant Sinha has defeated three-time Congress MLA Saurabh Narain Singh by a margin of 1,59,000 votes from Hazaribagh constituency in Jharkhand.
Sinha, also the son of senior BJP leader and former finance minister Yashwant Sinha, is the first private equity veteran to contest in Indian elections.
Hazaribagh was Yashwant Sinha's constituency which he vacated this time in favour of his elder son (Yashwant Sinha's younger son is Sumant Sinha, former CFO of Aditya Birla Group and CEO of Suzlon Energy).
Jayant is likely to get a role in the Modi government since senior Sinha has not contested this time and he is said to be a contender for the Planning Commission deputy chairman's post.
Jayant graduated from the Indian Institute of Technology, Delhi, and has worked with consulting firm McKinsey and Co before joining the Omidyar Network, an investment firm established by eBay co-founder Pierre Omidyar.
Sinha's wife Punita was a fund manager with Blackstone.
(Edited by Joby Puthuparampil Johnson)
Omidyar Network India Advisors Pvt. Ltd. is a venture capital firm with $737 million assets under management. It provides early stage and debt capital to companies operating in Asia, Africa, United States, Latin America and Europe. The firm seeks to invest in microfinance, small and medium sized enterprises, emerging market ventures and property rights and also in profit and non-profit organizations. It typically invests more than $1 million in its portfolio companies as an initial investment. The company was founded in 2004 and is based in Mumbai, Maharashtra with additional offices at London, Washington, Johannesburg and Silicon Valley.
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