Indian Private Equity and Venture Capital Association (IVCA) has elevated Padmanabh Sinha as its new chairman. Sinha, who was the vice-chairman of the industry body, will replace Gopal Srinivasan.
As part of the organisational rejig, Multiples PE managing director and CEO Renuka Ramnath has been named IVCA vice-chairperson. IVCA elects its executive committee every two years.
Since 2013, Sinha has been the managing partner of Tata Opportunities Fund, the flagship private equity investment vehicle of Tata Capital. According to his LinkedIn profile, he also had stints in Singapore state investment firm Temasek Holdings and ICICI Venture, the private equity arm of private-sector lender ICICI Bank.
In a press note, Sinha said that IVCA plays a pivotal role in working alongside its stakeholders, the government and the regulators to promote a world class and liberal private capital ecosystem. “A robust ecosystem will lead to increased investments and underlying job creation in India,” he added.
The industry body plans to promote on-shoring of offshore pools of capital through its advocacy for Goods and Services Tax rebates for deemed export of services over the next couple of years. Established in 1993, the Delhi-based institution represents private equity and venture capital firms to promote the industry within India and overseas.
IVCA’s members comprise venture capital and private equity firms, institutional investors, banks, incubators, angel groups, corporate advisors, accountants, lawyers and other service providers in the industry.