IVCA appoints Renuka Ramnath as its first female Chairperson
One of Renuka Ramnath's key objectives for IVCA is to attract high-quality international long-term risk capital and position India as an attractive and worthy investment decision.
Indian Private Equity and Venture Capital Association (IVCA) on Wednesday announced its new chairperson – Renuka Ramnath, Founder, Managing Director, and Chief Executive Officer of Multiples Alternate Asset Management.
Renuka has been an active member of the IVCA since its inception in 2010. She has spent nearly three decades in financial services across banking, ecommerce, and private equity ventures, IVCA said in a statement.
Besides, Karthik Reddy, Partner, Blume Ventures, has joined IVCA as the vice-chairperson.
"My key objectives for IVCA is to attract high quality international long-term risk capital and open up domestic capital by demonstrating and positioning India as an attractive and worthy investment decision," Ramnath said.
Ramnath further said: "In the years to come, our industry will remain more relevant than ever in the Indian economy, supplying the capital to sustain and grow companies and bolster entrepreneurship".
IVCA is a private equity/venture capital (PE/VC) industry body focussed on promoting alternative investment asset class within India.
In addition to this, she stated, "The focus areas will remain working with the government and regulatory bodies to build and grow our industry through continuous dialogue and a partnership approach with all our stakeholders."
Renuka Ramnath-founded Multiples Alternate Asset Management is an independent and India-focussed private equity firm with $1.5 billion under management and a portfolio of 21 companies.
More recently, in January 2020, Multiples made an investment of $20 million in a US and India-based applied artificial intelligence (AI) and big data services startup called Quantiphi.
Some of its portfolio companies include logistics startup Delhivery, film entertainment company PVR Cinemas, human resource technology and services startup PeopleStrong, and sports gaming platform Dream11. It has also incubated housing finance platform Vastu
The firm has also broken into niche sectors of dermatology product by investing in Encube Ethicals, global contract development and manufacturing organisation (CDMO), in 2016.
(Disclaimer: Additional background information has been added to this PTI copy for context)
Edited by Saheli Sen Gupta