Singularity AMC, an investor in companies like WebEngage and mCaffeine, has appointed the former partner of homegrown venture debt firm Trifecta Capital as a senior partner and co-chief investment officer.
The fund, which is backed by veteran investor Madhusudan Kela, said Tuesday it has hired Sandeep Bapat for the role.
In his new role, Bapat will use his perspective on identifying key trends and eventual steady-state outcomes for present and possible portfolio companies. He will undertake leadership responsibilities for investment activities at Singularity Growth and will also serve as a member of the Investment Committee, the firm said in a statement.
“Our strategic focus will center on key sectors including consumer brands, financial services, software, energy transition, and specialized manufacturing. Our vision is to make Singularity the preferred investment partner for entrepreneurs and businesses in these sectors,” said Bapat.
An alumnus of Harvard Business School and IIT Bombay, Bapat has over 15 years of investing experience in the technology, consumer, and financial services sectors. He has also served as an executive director at Hillhouse Capital and previously worked at Blackstone as well. He has also been an investor and an advisor to companies such as Swiggy, Cred, Atomberg and Auxilo Finserve.
"Sandeep's experience and track record in the investment industry make him an invaluable addition to our team. We are confident that his leadership will contribute to our success in delivering great client results," said Yash Kela, founder and chief investment officer, Singularity AMC.
Founded in 2021, Singularity is led by Yash Kela and is mentored by industry veteran Madhu Kela. In October, the firm concluded the first close of its Fund II at Rs 500 crore. The fund has a target corpus of Rs 1,500 crore and a greenshoe option of Rs 500 crore.
The asset manager has already made two investments from the fund. It invested Rs 25 crore in premium bike maker Classic Legends Pvt. Ltd, which operates under the brand Jawa and is a subsidiary of Mahindra & Mahindra Ltd.
The fund has also signed a Rs 75 crore cheque for a light and heavy commercial vehicle company whose name hasn't been disclosed.
In December 2023, the firm onboarded returning investors Self Reliant India Fund and Small Industries Development Bank of India’s fund of funds scheme in its second investment vehicle.
