Raj P Kondur, the co-founder of India’s largest private equity fund ChrysCapital, has joined Ascent Capital Advisors India Pvt Ltd (previously UTI Venture) as director.
Kondur was one of the two founders of ChrysCapital and left the firm later to start his own venture Nirvana Business Solutions, a business process outsourcing (BPO) firm in Bangalore. At ChrysCapital, Kondur made several successful investments, including his breakthrough deal
in BPO firm Spectramind, which reportedly returned the entire value of the first fund.
Prior to that, he also worked with Morgan Stanley and management consulting firm AT Kearney in the US. He was also a part of $1 billion Princes Gate Fund and was responsible for the firm’s M&A activities.
Apart from Kondur, Ascent Capital has three other directors and a team of 11 executives headed by Raja Kumar, the founder and CEO of the firm. In December last year, it has closed its third fund Ascent India Fund III at $350 million, raising funds in a tough market.