Hyderabad-based Natco Pharma Ltd has appointed Nitin Deshmukh as an additional director on its board, according to a company statement to the Bombay Stock Exchange. This follows a recent investment by Kotak Private Equity Group where it acquired 3.4 per cent stake in Natco Pharma.
Kotak India Venture Fund-I, a life sciences-focused venture fund, invested Rs 23.7 crore in the recently concluded Rs 67.5 crore qualified institutional placement (QIP) of the pharmaceutical company. Deshmukh is the founding member of the structured private equity practice and has played an important role in building Kotak’s PE business.
He has more than two decades of experience in venture capital and private equity investment, and has led investments in more than 60 companies.
Deshmukh joined Kotak in June 2004 and prior to that, he was the director with SEAF, a US-headquartered venture capital fund. He was also the founding member of the India team of Dresdner Kleinwort Capital when it started operations in India in June 2001.
In the past, he had also worked at ICICI Venture, the PE arm of the ICICI Group, where he led its investment strategy in life sciences (pharmaceuticals & biotechnology), media/entertainment and retail. He started his career at Cipla, a pharma company, and also served as the director general of Association of Biotechnology Led Enterprises (ABLE), an industry association of biotech companies in India.