New Delhi, June 13 -- Mid-market private equity firm TVS Capital has reconstituted its board of directors, appointing three new independent directors to replace three others who are stepping down.
The firm said Friday that R. Thyagarajan, Pradeep Kumar and Rajeev Gupta will move on from active board responsibilities. Thyagarajan will continue to be associated with the firm as 'Mentor Emeritus', the company said in a release.
Thyagarajan is the founder of Shriram Group, one of India's biggest non-banking financial services conglomerates. Kumar is a former managing director of State Bank of India while Gupta is founding partner at PE firm Arpwood Capital.
As part of the reconstitution, TVS Capital appointed Shyam Srinivasan, Subhasri Sriram and Mithun Sacheti as independent directors on its board.
Srinivasan, former MD and CEO of Federal Bank, will also serve as senior advisor and operating partner at TVS Capital.
Sriram is MD and CEO of Shriram Capital and brings an experience of over 30 years in leadership roles in financial services and corporate governance. Sacheti is the founder and former MD of jewellery firm CaratLane. He brings entrepreneurial experience and expertise in scaling digital consumer businesses, TVS Capital said.
TVS Capital, led by chairman and managing director Gopal Srinivasan, is a growth-oriented PE firm that focuses on financial services and technology-enabled sectors. With a portfolio of over 35 businesses and 28 exits, it manages about 5,000 crore across its third and fourth funds.
The firm recently invested in newly established non-bank lender Saarathi Finance and is also on the cusp of hitting the final close of its fourth fund at over $500 million, VCCircle previously reported.
Published by HT Digital Content Services with permission from VC Circle.