Motilal Oswal PE hires Snapdeal exec to drive consumer investments

Motilal Oswal Private Equity Investment Advisors (MOPE) has appointed Amit Chaudhary as director in its private equity business.

Chaudhary would be responsible for driving and managing investments in consumer businesses. In addition, he will play a key role in formulating strategy and growth of the private equity business at MOPE, the company said.

In September 2015, Rakesh Sony, former director of Motilal Oswal Private Equity Advisors Pvt. Ltd, quit to join US food and agri giant Cargill's private equity arm Black River Asset Management.

Chaudhary has about 16 years of experience in consumer facing businesses. Prior to joining Motilal Oswal Private Equity, he was SVP - Corporate Finance at Snapdeal.

He has worked both in India and in Singapore and has experience in growing businesses, financial management, supply chain, cost control and operational improvement.

Chaudhary has spent over 10 years at Procter & Gamble both in India and Asia. In his last assignment with P&G, Chaudhary was regional finance head – Asia for the Petcare division of Procter & Gamble, Singapore.

Vishal Tulsyan, CEO and MD of Motilal Oswal Private Equity, said “Consumer facing business has always been one of the focus sectors for us at Motilal Oswal Private Equity, and we expect to invest around one-third of our assets under management (AUM) in such business. Amit brings in a unique blend of both operations and financial understanding of the consumer space and in line with our knowledge driven investing philosophy.”

MOPE is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a diversified financial services group that operates in capital markets businesses (retail and institutional broking, wealth management and investment banking), asset management (public market equities and private equity), housing finance and fund based business. 

At present, MOPE is managing two growth capital funds—India Business Excellence Fund (IBEF) and India Business Excellence Fund II (IBEF II)—providing growth capital to mid-market companies, typically in the range of $10-25 million, focused on domestic consumption, financial services, infrastructure ancillary, and manufacturing. 

IBEF, launched in 2007, is a Rs 550 crore ($125 million) fund and is fully invested in 13 portfolio companies. IBEF is in an exit phase and has already made nine partial exits. The fund I invested in Time Technoplast, IMP Powers, inTarvo, Effort BPO, Resurgere, AU Financiers, Gowardhan, Dixon, Power Mech Projects Ltd, Minda Industries Ltd, Mrs Bector Foods Specialities Ltd, GR infra projects and Electromech.

In 2012, MOPE raised IBEF II, a Rs 950 crore ($ 160 million) growth capital fund. Currently, IBEF II is in investment phase and has made eight investments. Its investments include Intec Capital, Magicrete, Glass Wall Systems, Indian Energy Exchange Ltd, Kurlon Enterprise Ltd, Arinna Lifesciences Pvt. Ltd.

Its realty investment arm Motilal Oswal Real Estate (MORE) announced the first close of India Realty Excellence Fund (IREF) III at Rs 500 crore (about $73 million) in February 2016.

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