Violet Arch Capital Advisors, a financial services start-up founded by former SBI Macquarie Infrastructure Fund CEO Varun Bajpai, has roped in four senior team members, including a COO and heads of investment bank and NBFC business.
Indraneil Borkakoty, former head of capital markets at Nomura, who has 15 years of experience in capital markets and M&A, joins Violet Arch as the managing director and head of investment banking. Prior to Nomura, Borkakoty held senior positions at Kotak Investment Bank and ICICI Securities.
Ravi Agarwal, former managing director (India operations) of the global hedge fund Spinnaker Capital, joins Violet Arch as managing director – structured finance – in charge of the proposed NBFC operations. Agarwal had also worked with ANZ Investment Bank where he was responsible for arranging debt and equity for large infrastructure projects in India and the Middle East, across various sectors including power, oil & gas, etc.
Violet Arch has also appointed Anand Krishna as the chief operating officer who will oversee the operations across its business verticals. He has more than 25 years of experience in operations and finance functions. Krishna was last working as head – corporate affairs group – for Macquarie’s Indian businesses in Mumbai.
The firm has also brought in Jayanta Basu, a senior finance professional with 22 years of experience including his last role at Fullerton India where he was senior vice-president (SME segment) and responsible for integrated risk management of the portfolio. He is joining Violet Arch as senior vice-president – structured finance.
The new appointments come barely a month after New York-based Berenson & Company came in as a strategic investor by acquiring around 7.5 per cent stake in Violet Arch. The deal with Berenson & Co, a financial advisory and investment management firm, valued the seven-month-old Violet Arch Capital at $60 million. Besides Berenson, a large, unnamed Indian conglomerate is also backing Violet Arch.
Violet Arch, which aims to be a full service investment bank across M&A and private equity advisory besides securities and private equity business, kicked off its operations by acquiring Alchemy Shares & Stock Brokers from its promoters, one of whom is the billionaire investor Rakesh Jhunjhunwala.
Violet Arch has built up a team over 70 people, with most of them in the securities business and little over a dozen in the I-banking team. Former HDFC Securities’ executive director Sanju Verma is leading the securities business.