New Delhi, Aug. 4 -- Global venture capital and growth equity investment firm Norwest Venture Partners, which is currently deploying a $3-billion (Rs 28,500 crore) fund closed nearly two years ago, has roped in a top executive from investment bank DC Advisory to lead its corporate development and mergers and acquisitions (M&A) practice.
The firm has appointed Abhijit Chiripal who was previously managing director at DC Advisory, an international investment bank and corporate finance advisory firm owned by Japan's Daiwa Securities Group.
"Abhijit will partner with portfolio companies, helping founders and management teams navigate pivotal growth milestones and unlock long-term value," the company said.
At DC Advisory, where Chiripal worked for four years, he led the financial services practice in the investment banking team and also worked on a broad range of M&A and fundraising transactions.
Prior to joining DC Advisory, Chiripal served as the managing director and head of investment banking at financial services firm Spark Capital. The Chennai-based firm offers investment banking, wealth management and alternative investment services to corporations, family offices, and high-net-worth individuals (HNIs).
Earlier, he also worked at ICICI Securities, advising companies on a broad range of capital market, fundraising and strategic transactions.
Norwest, which has been investing in India since 2005, makes investments across stages. Its ticket size ranges from $10 million to $30 million for early and mid-stage companies that show strong growth potential, have proven business models and initial revenue traction. In the growth equity stages, its ticket size ranges from $20 million to $100 million for companies with strong market positions, proven management teams, significant revenue and net income traction. It invests in both listed and unlisted companies.
Its investments are across sectors such as financial services and technology, consumer technology, products and services, B2B technology, industrials and manufacturing, SaaS and enterprise software, business and IT services, healthcare, and technology.
Its portfolio in India includes companies such as Veritas Finance, BusinessNext, Raghu Vamsi Aerospace, Veriqus Group, Regency Hospital, among others.
Published by HT Digital Content Services with permission from VC Circle.