Tata Capital, the financial services arm of the $83.6 billion Tata Group, has roped in Capvent’s Joe Sovran for its private equity business. Sovran has been appointed as Tata Capital’s vice-president, international business, and he will help the firm’s PE arm raise funds from global investors.
“Joe Sovran has joined Tata Capital Plc. as vice-president, international businesses, and will be based in London,” said a Tata Capital spokesperson in response to VCCircle’s queries.
The appointment comes as Tata Capital has raised $800 million for its private equity fund business and is on track to raise $1 billion by 2012. The company has five funds including Tata Opportunities Fund, Growth Fund, Innovation Fund, Healthcare Fund and Special Situations Fund.
Until recently, Sovran was a Partner with Capvent AG, a Switzerland-based private equity fund of funds focused on Asia.
Sovran joined Capvent in 2002 where he was involved in investments, marketing, business development and operational management. He has jointly managed the strategy, sourcing, due diligence and monitoring of Capvent’s private equity programmes across all sizes and styles of private equity worldwide.
Before Capvent, Sovran worked with Regent, a European corporate development specialist, and focused on mergers & acquisitions, valuations and capital raisings. He had also worked with Nortel and IBM. Sovran holds an MBA and a B.Sc. in Engineering, and is a dual citizen of Italy and Canada.
