New Delhi, May 25 -- Harsh Tenneti, who previously served as the head of mergers and acquisitions at Tube Investments of India, has launched an investment banking firm.
Tube Investments, part of the Murugappa Group, manufactures precision steel tubes and strips, car door frames, automotive and industrial chains, and bicycles. Over the years, it has expanded its portfolio through strategic M&A deals, focussing on medical devices, electric vehicles, and precision manufacturing. In late 2024, it acquired Lotus Surgicals and Kcaltech System India during Tenneti's stint.
The new firm, Acretus Advisory, will also have Apoorva Chandra, former senior manager, corporate development at Amagi Corp, as a partner. He previously worked at Goldman Sachs and Blackfox Financial.
Amagi provides end-to-end cloud-managed live and on-demand video infrastructure for TV and OTT platforms. It acquired Argoid AI in December 2024, and Tellyo in November 2023.
"After spending years doing deals in the M&A space, most recently as head of M&A at Tube Investments (Murugappa Group), this felt like the natural next step," said Tenneti in a post on Linkedin. Previously, he has held roles at The DE Shaw Group and iBUS.
Acretus Advisory will focus on the healthcare and education segments. The Bengaluru-headquartered firm will also be active across industrials, retail, and telecommunications, media, and technology. It will execute mergers and acquisitions, and equity and debt capital raises.
"Founder-led businesses in these sectors often sit on genuinely valuable assets, but lack the right advisory infrastructure around them when it matters most: a fundraise, an acquisition, a sale, or a pivotal strategic decision," said Chandra.
Tenneti and Chandra left their previous roles in 2025 to work on Acretus.
Published by HT Digital Content Services with permission from VC Circle.