TR Capital, a secondary private-equity firm, has appointed Umang Agarwal as managing director, part of an India expansion that includes a new office in Bengaluru alongside its existing base in Mumbai.
Agarwal was earlier a principal at Eight Roads India. The firm has also set out plans to deploy up to $1 billion in secondary transactions in India over the next five years. It has been active in the country since 2008, betting on Flipkart, Lenskart, Fibe, BigBasket, MoEngage and Shadowfax, among others. "TR Capital will increase its role in contributing to India's economy by working closely with founders, venture capitalists, PE funds and other stakeholders who are managing complex liquidity needs," Agarwal said.
The firm is currently evaluating several large transactions in the country, including portfolio deals involving three to eight assets. Some are at advanced stages of diligence and could close over the next one to two quarters, managing partner Frederic Azemard and Agarwal told The Economic Times. Paul Robine started TR Capital in Hong Kong in 2007. The firm operates as an active secondary investor across Asia, with a focus on technology, consumer and healthcare.
Its investor base includes sovereign wealth funds, pension funds, asset managers, entrepreneurs and family offices. Since inception, it has raised five flagship funds, managed capital commitments of $1.5 billion and completed more than 50 secondary investments across Asia. The expansion comes after a period of churn in the firm's senior India team. Last year, director Rohitt Mutthoo, who led investments in the country, stepped down and was later reported to be partnering with former Eight Roads Ventures executive Raj Dugar to launch a secondary fund, Ambit Arcadia Alternatives. Other senior departures over the past two years include director Norbert Fernandes and vice president Naman Jain.
The firm is currently evaluating several large transactions in the country, including portfolio deals involving three to eight assets. Some are at advanced stages of diligence and could close over the next one to two quarters, managing partner Frederic Azemard and Agarwal told The Economic Times. Paul Robine started TR Capital in Hong Kong in 2007. The firm operates as an active secondary investor across Asia, with a focus on technology, consumer and healthcare.
Its investor base includes sovereign wealth funds, pension funds, asset managers, entrepreneurs and family offices. Since inception, it has raised five flagship funds, managed capital commitments of $1.5 billion and completed more than 50 secondary investments across Asia. The expansion comes after a period of churn in the firm's senior India team. Last year, director Rohitt Mutthoo, who led investments in the country, stepped down and was later reported to be partnering with former Eight Roads Ventures executive Raj Dugar to launch a secondary fund, Ambit Arcadia Alternatives. Other senior departures over the past two years include director Norbert Fernandes and vice president Naman Jain.