Chennai-based private equity firm TVS Capital, which manages the TVS Shriram Growth Fund, has appointed T.N. Madan as head of research for deal sourcing and evaluation, the company has said in a statement on Tuesday.
Before joining TVS Capital, Madan was associated with credit ratings organisation CRISIL where he supervised the research delivery of large analyst teams working across multiple sectors. A chartered accountant with a background in equity valuation, he has conducted workshops and seminars on practical issues of valuation for investment professionals. Prior to CRISIL, Madan worked with Morgan Stanley Capital International and Ernst & Young.
“Madan’s extensive experience in research will help the fund effectively source proprietary deals and identify investment themes consistent with our philosophy of idea-based investing. We see this as a key positive in a juncture where TVS Capital is in the process of raising capital for the Fund Scheme 1B, which is receiving very positive response from the investors,” Gopal Srinivasan, chairman and managing director of TVS Capital Funds Ltd, commented on the new appointment.
TVS Capital Funds Ltd manages the TVS Shriram Growth Fund I, which is a Rs 600 crore domestic fund. The fund chases investments across consumer-driven opportunities such as retail, healthcare, education, food & agro, FMCG, media & entertainment and facilities management.
It 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. The PE firm is now raising up to Rs 500 crore for its top-up fund from domestic institutions and high networth individuals.
The company has recently brought on board G Ravishankar as executive director and chief financial officer. Prior to joining TVS Capital, Ravishankar was the managing director and chief executive officer of Geometric Ltd, an engineering services company.