UK’s development finance institution, British International Investment (BII) has appointed former UK govt-backed Neev Funds’ chief, Manav Bansal as its new head of India and managing director.
Bansal will oversee the DFI’s investment plan of up to $3 billion over the next five years and further boost BII’s presence across India, the company said in a statement.
A civil engineer and an MBA holder, Bansal has over 20 years of experience as a private equity investor and investment banker across infrastructure, healthcare and technology sectors. He has held various senior positions at KPMG, PwC, where he has led initiatives for corporate advisory, cross-border M&A and policy advisory to governments including India.
“I look forward to working with BII’s team to build on the foundations that have been laid and drive its strategic vision forward in India - supporting key economic sectors and unlocking the potential in local businesses for long-term growth that benefits not only communities but also the planet,” said Bansal.
“We are pleased to have Manav on board as the depth and breadth of his experience, will strengthen BII’s ambition to broaden our impact in India. His leadership will be instrumental in executing our new five-year strategy, ensuring our investment into critical areas such as climate change and early-stage businesses continue to deliver productive, sustainable and inclusive impact over the long-term across India, said Srini Nagarajan, MD and head of Asia ops, British International Investment.
The British investment firm has been aggressively making changes in its senior management over the past few months.
In April this year, Oman India Joint Investment Fund’s Satish Chavva has been appointed by the BII, to lead its direct private equity division for south Asia, VCCircle had reported.
In February, BII appointed four new managing directors including India’s Abhinav Sinha as managing director and head of technology and telecom.
In November, it appointed former Google executive, Diana Layfield as its new chairperson making her the first woman to head BII.
British International Investment has an existing portfolio of over $2 billion in India. Globally, in the last five years it has invested close to £7 billion (around Rs 69,620 crore).
Last year, BII announced the intention to invest up to $1 billion in climate funding in India over the next five years. Over the last four years, CDC has invested over $1 billion in climate finance across Africa and South Asia.
Established in 1948 as CDC, which was rebranded as BII beginning April 2022, the investment company has added Southeast Asia and the broader Indo-Pacific region as its new focus areas for business expansion.