Indian Private Equity and Venture Capital Association (IVCA) has appointed Renuka Ramnath, founder and CEO at Multiples Alternate Asset Management, as its new chairperson.
Ramnath, who was earlier the vice-chairperson at the firm, takes over from Padmanabh Sinha with effect from 17 March 2020, IVCA said in a statement.
“My objectives for IVCA is to attract high quality international long-term risk capital and open up domestic capital by demonstrating and positioning India as an attractive and worthy investment decision,” Ramnath said.
Karthik Reddy, partner at Blume Ventures has been appointed as the vice-chairperson at IVCA.
Ramnath, who has been an active member of the IVCA since its inception in 2010, has spent nearly three decades in financial services across banking, e-commerce, and private equity ventures. Her appointment has come at a crucial juncture when the private equity community is grappling with ways to minimize the impact of COVID-19 on its portfolio firms.
An alumnus of Harvard Business School, Ramnath worked as MD and CEO at ICICI Venture before joining Multiples Alternate Asset Management. Before that, she worked with ICICI Group for 15 years handling multiple roles, according to her LinkedIn profile.
IVCA said it has been proposing short-term policy suggestions to prevent jobs and potential business losses.
The industry body said vice-chairperson Karthik Reddy and Siddharth Pai, the co-chair of IVCA regulatory affairs committee represented the body in a conference call with the Commerce Minister Piyush Goyal and shared industry recommendations and startup and fund related concerns.
“Our focus areas remain working with the government and regulatory bodies to build and grow our industry through continuous dialogue and a partnership approach with all our stakeholders,” Ramnath added.