New Delhi, July 28 -- Homegrown private equity firm ChrysCapital, which last year set a domestic record by marking the final close of its tenth fund at $2.2 billion, has appointed a Boston Consulting Group (BCG) veteran to strengthen its in-house operational improvement platform Enhancin.
ChrysCapital launched Enhancin in 2017 as a dedicated value creation platform to work alongside its deal teams in supporting portfolio companies. The initiative was conceptualised by managing partner Kunal Shroff.
The PE firm has now brought on board Rachit Mathur as managing director and head of Enhancin, according to a social media post.
Mathur worked at BCG for nearly 19 years before moving to ChrysCapital. Previously, he worked with diversified conglomerate ITC Ltd as manager of special projects for more than nine years. He holds a bachelor's degree with honours in manufacturing science and engineering from the Indian Institute of Technology, Kharagpur.
Mathur joins eight senior advisors and about a dozen ChrysCapital executives at Enhancin. The advisors include Marico's Harsh Mariwala, former Cyient Ltd CFO Ajay Aggarwal, and former Bain & Co India head Sri Rajan. The PE firm's executives who are part of the operating team include senior partner Sanjiv Kaul, operating partner Sanjay Jalona and managing director Parampreet Singh Bhasin, according to ChrysCapital's website.
It couldn't be ascertained whether any of these executives is stepping down. ChrysCapital didn't respond to VCCircle's request for comment.
At the time of Enhancin's launch, ChrysCapital said the platform would help portfolio companies improve operational efficiency through initiatives such as cost optimisation, employee stock ownership plan (ESOP) design, IPO preparedness and broader business transformation. The firm had also indicated that the platform could eventually become involved in evaluating prospective investments alongside its investment professionals.
Founded in 1999, ChrysCapital is one of India's largest homegrown private equity firms, investing across enterprise technology, financial services, healthcare, consumer, new economy and manufacturing. The firm's current and past investments include Dream Sports, Lenskart, Xpressbees, Mankind Pharma, FirstCry, Theobroma and Awfis.
The appointment comes months after ChrysCapital bolstered its senior leadership in April by promoting Rajiv Batra to managing director and Pradumn Bajaj to managing director-public markets. In March, the firm elevated Sanjiv Kaul, Ashley Menezes and Gaurav Ahuja to senior partners, and named Sanjay Kukreja as managing partner and chief investment officer.
The firm closed its tenth flagship fund, ChrysCapital X, at a record $2.2 billion in November last year, making it the largest sector-agnostic private equity fund raised in India. The fund was around 60% larger than its predecessor, which had raised $1.35 billion.
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Published by HT Digital Content Services with permission from VC Circle.