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New Silk Route promotes four in New York and Mumbai

1 Apr 2010

New Silk Route, a growth capital firm that invests in Indian, South Asian and Middle Eastern businesses, has made a string of promotions in both its New York and Mumbai offices.

NSR has made Shantanu Nalavadi (pictured) the fifth partner in its Indian office. He has been associated with NSR since 2007 and works on private equity opportunities in the Indian subcontinent. Nalavadi previously worked for Walt Disney India, Star TV and ANZ Investment Bank.

The firm has also promoted Nithin Kaimal to principal and Rajan Singh to vice president, both in the Mumbai office.

Harsha Misra, who focuses on investments in the telecom, education, and healthcare sectors from the firm’s New York office, has been promoted to principal.

Parag Saxena, founding general partner and CEO of NSR, said, “We have strengthened our worldwide team by promoting people who will help spearhead core opportunities in various important sectors.”

NSR manages one fund, New Silk Route PE Asia Fund, which raised commitments of $1.4bn.

In May 2009, the firm acquired an interest in KS Oils, an Indian edible-oil company. NSR invested INR1.35bn ($30.1m) for a seven to eight per cent stake in the mustard oil production company, which raised INR4.5bn ($100.4m) from a number of private equity houses, including Citi Venture Capital International and Baring Private Equity Asia – both investing INR490m ($10.9m).

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