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TA Associates promotes India head to managing director
Photo Credit: Manni Das/VCCircle

US-headquartered private equity firm TA Associates has promoted the head of its Indian operations.

Dhiraj Poddar has been elevated from the post of director to managing director with effect from January 1, the private equity firm announced on Monday.

Poddar was among ten TA Associates executives to receive promotions across the company’s offices in Boston and Menlo Park (both US), Hong Kong and Mumbai.

“Each of these individuals has played an important role in our growth and evolution as a firm, and we are pleased to recognise their accomplishments and look forward to their continued successes and contributions to TA,” said Brian J Conway, chairman and managing partner at TA Associates. 

Poddar, who has a degree from the Institute of Chartered Accountants of India and an MBA from the Indian Institute of Management-Ahmedabad. has advised several of TA’s investments in India, the firm said. These include Atria Convergence Technologies (ACT), Fincare, Fractal Analytics, Ideal Cures, IndiaIdeas.com (BillDesk), Prudent Corporate Advisory Services, RateGain, Shilpa Medicare and Tega Industries. 

VCCircle had reported last week that TA Associates may fully exit its five-year-old investment in data analytics firm Fractal Analytics by selling its stake in a big-ticket transaction.

The PE firm’s most recent investment in India was in mutual fund distributor Prudent Corporate.

Boston-based TA focusses on providing late-stage growth capital to companies in five core sectors—technology, financial services, healthcare, consumer and business services.

In April, VCCircle estimates showed TA may have invested $650-700 million in India across 12 companies over a 12-year period. In terms of investment amount, TA lags behind Blackstone, KKR, Warburg Pincus, Carlyle, Apax and its Boston counterpart Bain Capital.

According to VCCEdge, the data research platform of News Corp VCCircle, the firm’s pace of investments has picked up over the past four years. Seven of the 12 investments were made after January 2015, the data showed.

TA Associates-backed TCNS Clothing Co. Ltd, which owns the W brand of womenswear, went public last July.

VCCircle reported that the PE firm had scored high returns from selling part of its stake in TCNS’ IPO.

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