TVS Capital, an Indian mid-market-focused private equity firm, has hired D Sundaram, the former vice chairman of consumer goods company Hindustan Unilever, as vice chairman and managing director, according to VCCircle.
Chennai-based TVS Capital is opening a new office in Mumbai, where Sundaram will work alongside a senior investment team.
Sundaram was a 34-year veteran with Hindustan Unilever handling the finance and M&A functions at the company.
VCCircle reports that TVS Capital appointed Murli Ramachandran, the former managing director of Sanmar Speciality Chemicals, as an executive director.
Ramachandran has 24 years of operational experience with, besides Sanmar, RPG Group, Eicher, Colgate-Palmolive and Johnson & Johnson.
The private equity firm manages the TVS Shriram Growth Fund, an India-focused fund which aims to develop mid-cap companies with typical sales of INR500m ($10.4m) to INR2.5bn ($52.2m).
The fund’s primary investment focus is in consumer consumption-based growth companies in sectors including media and entertainment; food processing, home and personal care; retailing, apparel and footwear; restaurants; real estate ancillary; consumer finance; healthcare; privatised education; travel and tourism.
TVS Capital was founded in September 2007 by Gopal Srinivasan of TVS Group, an Indian conglomerate.
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