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Tata Capital Ltd, the financial services arm of Tata Sons Ltd, has appointed Dr Mukund Govind Rajan as managing partner for the firm's new private equity fund. 

Rajan is currently managing director of Tata Teleservices Maharashtra Ltd (TTML), a listed entity of Tata Group. He has been with the group for a long period of time, and was previously with Tata Industries Ltd and Tata Sons Ltd, the two main investment holding companies of the Tatas.  

Rajan has a very good understanding and operational expertise on India’s fastest growing sectors, including telecommunications, said a company statement. Under his leadership, TTML witnessed significant increase in its revenue in an intensely competitive environment, and has emerged amongst the top three wireless operators in its markets, added the statement.

Rajan joined Tata Group in January 1995, and was assigned to the office of Tata group chairman Ratan Tata in 1996. In January 2008, he took charge of TTML as managing director. Besides, he also serves on the boards of several Tata companies, including Tata Communications Ltd and Piem Hotels Ltd. 

According to a previous VCCircle report, Tata Capital would be investing about $8-10 million each in two healthcare firms -- Intas Biopharmaceuticals Ltd (IBPL) and VLife Sciences Ltd, through its private equity arm for minority interest. In February, PTI reported that Tata Capital was raising $350-400 million private equity corpus and was expecting to close the fund within six-months.

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