Rajesh Singhal, Managing Partner at Milestone Religare Capital Advisors, has joined Tata Opportunities Fund as a partner. Tata Opportunities is a sector agnostic fund, providing growth capital to mid-market companies. It is one of the various funds floated by Tata Capital – a wholly owned subsidiary of Tata Sons Ltd.

Singhal has assumed his new role only this Monday. At Tata Capital, Singhal and his team members will evaluate investment opportunities across various sectors. Tata Opportunities Fund is headed by Mukund Rajan who is also the managing partner. Rajan had joined Tata Capital in June, 2010.

For Singhal, this is a move from one corporate-sponsored PE fund to another. Singhal has been with Milestone Religare Investment Advisors since its inception in 2008. Milestone Religare is a JV between Malvinder and Shivinder Singh-owned Religare Enterprises and a Mumbai-based independent investment advisory firm, Milestone Capital Advisors.

The private equity fund had healthcare and education as key focus areas. The fund which started with an initial capital of Rs 400 crore, has almost been deployed. Some of its portfolio investments include Healthcare Global Enterprises (HCG), a Bangalore-based chain of oncology super-specialty hospitals; Krishna Institute of Medical Sciences (KIMS), a Hyderabad-based multispecialty hospital and IMS Learning Resources, a test preparation company for MBA aspirants. 

Prior to joining Milestone, Singhal was a director with Intel Capital, yet another corporate VC arm. He is an engineer from IIT (Bombay) and has done his MBA from IIM Lucknow.

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