Devyani Khanvilkar quits as MD of o3 Capital to join MAPE

Bangalore-headquartered mid-market investment banking firm MAPE Advisory Group has added two more senior resources in its team over the last few weeks after making a key lateral hire in January this year.

It has brought in Devyani Khanvilkar as managing director in Bangalore. Khanvilkar comes in from o3 Capital, where she had joined as managing director in September 2013 after serving as Kotak Investment Banking's executive director.

At Kotak, she headed consumer, retail and logistics sectors and prior to that role, she was responsible for EPC infra and textile sectors as well as South India region for the firm. Prior to joining Kotak, she worked with DSP Merrill Lynch.

In another appointment MAPE has roped in Aneesh Matapurkar as director. He too joins in from o3 Capital where he served as executive director for close to three years, as per his LinkedIn account.

Like Khanvilkar, prior to o3, Matapurkar too had worked at Kotak Investment Banking as vice president and in the past also served at ICICI Securities, SBI Capital Markets and Philips India. Matapurkar is an alumnus of IIT Roorkee and IIM Lucknow.

Early this year it brought in Sughosh Moharikar as managing director in its Mumbai office. Moharikar joined from Deutsche Bank, where he was heading its India M&A advisory unit.

One source tracking people movement in the investment  banking space said that MAPE’s aggressive hiring of laterals indicates its focus on trying to strike big-ticket deals.

An email sent to Jacob Mathew, managing director and co-founder of MAPE, did not elicit a response.

MAPE, co-founded by former DSP Merrill Lynch bankers Jacob Mathew and Ramprasad M, has been active in both M&A advisory and private equity deal syndication business.

Last year it was involved in Blackstone’s management buyout of Agile Electric and Sree Jayajothi Cements’ sale to CRH’s Indian venture My Home Group, among other deals. In CY 2013, it closed 10 deals valued at $355 million, as per VCCEdge, the data research platform of VCCircle.

Since January this year, MAPE has closed two deals, including an advisory role in the deal where India Value Fund Advisors  backed A Mahendran to acquire stake in ISS HiCare for close to $24 million.

(Edited by Joby Puthuparampil Johnson)

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