Spark Capital Advisors (I) Pvt Ltd, known for investment banking and capital market brokerage businesses, said that Abhijit Chiripal will take over as the new head of i-banking.
Chiripal will replace Skanda Jayaraman who is leaving to pursue an entrepreneurial career, said Spark Capital in a statement.
Chiripal, who had joined Spark Capital in 2015, has been leading the banking, financial services and insurance (BFSI) vertical.
A graduate of St Stephen's College, Chiripal previously worked with Religare Capital Markets, ICICI Securities and Citigroup.
Jayaraman started with Spark Capital in early 2008. At the investment bank, he led transactions and closed deals in various sectors including healthcare services.
Prior to Spark Capital, he had worked with Standard Chartered Bank (Singapore) and PricewaterhouseCoopers.
RamaRao Yechuri, founder and CEO of Spark Capital, said that Jayaraman has played a key role in building and taking Spark Capital pan India, as well as in scaling the business manifold.
Chennai-headquartered Spark Capital, broadly known for investment banking and capital market brokerage businesses, also launched its maiden alternative investment fund (AIF) in 2017 with a target corpus of Rs 250 crore. It later downsized the PIPE (private investment in public equity) fund to Rs 50 crore.
In March 2021, VCCircle reported that Spark Capital's AIF arm is all set to hit the final close of its second AIF almost two years after marking the first close.
In 2016, VCCircle had reported how the firm broke into the highly competitive markets for initial public offerings and institutional share sales.