Chennai-based private equity firm TVS Capital Funds Ltd, which manages the Rs 600 crore TVS Shriram Growth Fund, has roped in G. Ravishankar as an executive director and chief financial officer, the company has said in a statement on Monday.
Prior to joining TVS Capital, Ravishankar was the managing director and chief executive officer of Geometric Ltd, an engineering services company. He had also worked with GE India for about 14 years in various capacities where his last position was that of the CFO at GE Healthcare, South Asia. He was with GE’s financial businesses as well and left the vertical as the vice-president and head of risk management for the consumer finance wing.
Ravishankar holds a degree in Chemistry, besides being a chartered and a cost accountant. He conducts an executive educational programme on ‘Corporate Financial Strategies for Creating Share Holder Value’ at the Kellogg School of Management.
“Ravishankar’s experience in GE, a company whose management practices are so relevant to private equity, as well as his exposure to risk management, will help us in building strong internal processes and ensuring best practices in good governance at our portfolio companies. We are delighted at his decision to join our capable team,” Gopal Srinivasan, chairman and managing director of TVS Capital Funds Ltd, commented on the development.
The fund has made nine investments till date and the portfolio includes Medfort Hospitals, Om Pizza & Eats, MedPlus, Dusters Total Solutions Services, Landmark, 9.9 Mediaworx, TVS Logistics, Ratnakar Bank and Indian Cookery. The sponsors of the fund are the TVS Group and the Shriram Group.
“Private equity is the next logical step to build my career as it is a platform to make an impact professionally and contribute to India’s entrepreneurial growth story. I look forward to helping the firm create the top private equity AMC in India. It will be a privilege to work with its marquee investors, growing portfolio companies, entrepreneurial management team and eminent board and advisory members,” said Ravishankar on his new role.
TVS Shriram Growth Fund-I is planning to raise up to Rs 500 crore for its top-up fund from domestic institutions and high networth individual (HNIs). The TVS Group and the Shriram Group are expected to put Rs 50 crore in this fundraising, with another Rs 50 crore expected from ‘family and friends.’
TVS Capital Funds Ltd manages the TVS Shriram Growth Fund I which is a Rs 600 crore domestic fund. The fund is targeting investments across consumer-driven opportunities such as retail, healthcare, education, food & agro, FMCG, media & entertainment and facilities management.
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