Investcorp India business head Harsh Shethia

Investcorp, the Bahrain based alternative investments firm, has elevated Harsh Shethia to head its India business. Shethia, who has been associated with Investcorp for nearly 19 years, will report directly to group co-chief executive officer Rishi Kapoor, the firm said in a statement.

Responsibilities at the new role will include focussing on business development activities for Investcorp India. “We look forward to leveraging Harsh’s global expertise as we continue to capitalize on the attractive investment opportunities within the mid-market segment in India,” Kapoor said.

Shethia’s past positions within Investcorp include chief of staff for the president of its Gulf business, country head for Oman, product specialist for credit and real estate in the United States and Europe, head of client servicing, and head of business analysis and reporting.

“We believe India is well-positioned to benefit from the increased adoption of tech-enabled business models, and I am excited to explore the new business opportunities presented by these themes,” he added.

Prior to joining Investcorp, Shethia had been associated with Goldman Sachs in London. He holds an MBA from Carnegie Mellon University.

In India, Investcorp maintains an active presence in the mid-market space, with the firm making bets in consumption-linked sectors and real estate. Some of these sectors include consumer-technology, education, logistics, healthcare, and financial services.

In January, the firm acquired a majority stake in the software-as-a-service-based e-commerce solutions provider Unilog from backers including Kalaari Capital and 22 individual investors. Other bets for the firm include InCred, co-living services provider Zolo, online delivery platform for meat and seafood Freshtohome, and logistics player Xpressbees.

Within real estate, Investcorp says it invests in projects located in top-tier cities in the country. So far, it has deployed at least $200 million across 26 projects through two funds. It has also raised $130 million in anchor commitments for its real estate direct lending unit.

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