India Value Fund Advisors promotes three executives as partners

Private equity firm India Value Fund Advisors (IVFA) has promoted three of its directors—two from the business development side and one from the investment management unit—as partners.

This takes the total number of its partners to 10, including managing partner Vishal Nevatia. The mid-market focused PE firm, which has a preference for buyouts, earlier had three partners each from the investment management and business development wings. 

Those who have been elevated include Srikrishna Dwaram (investment management), Ashish Bhargava and Divya Sehgal (business management). All the three are based in Mumbai; the new positions will come into effect from April 1.

Dwaram, who joined IVFA in 2006, is involved in investments in varied industries, as well as in developing the firm’s businesses in the energy and financial services sectors. A Bachelor of Mechanical Engineering from National Institute of Technology, Warangal, Dwaram also holds a post-graduate diploma in Management from IIM, Ahmedabad. Prior to IVFA, he worked with Yes Bank, ICICI Bank and Kirloskar Oil Engines.

Bhargava joined IVFA in 2008 and is involved in managing IVFA investments in varied industries, including construction materials, logistics and digital media. He holds a Bachelor of Engineering degree from IIT Delhi and did a Post Graduate Diploma in Management from SP Jain Institute of Management and Research. Bhargava previously worked with Marico and Coats Viyella.

Sehgal works with various IVFA companies, including Meru Cabs (radio taxis) and IFAPL/FFSL (microfinance). He is a Bachelor of Electrical Engineering from IIT Delhi and holds a Post Graduate Diploma in Management from IIM Bangalore. Prior to joining IVFA, he was COO of Apollo Health Street, a healthcare outsourcing firm.   Before that he worked as a consultant with McKinsey and  with the corporate finance team at ANZ and as an entrepreneur at Emedlife, one of the first corporate healthcare advisory firms in India that eventually merged with the Apollo group. He joined the PE firm in 2010.

IVFA, which manages over $1.2 billion in assets, invests in mid-sized firms and has a bunch of control transactions under its belt. Last month, it acquired National Bulk Handling Corporation, the warehousing arm of Financial Technologies (FTIL), for Rs 300 crore and prior to that in January, it joined hands with former Godrej Consumer Goods’ executive Arumugham Mahendran to buy ISS Hicare, one of the largest pesticide services companies in the country.

(Edited by Joby Puthuparampil Johnson)

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