Varun Kapur joins TPG Ventures to focus on Investments in India
TPG Ventures (TPGV) announced that Varun Kapur, a prominent Asian private equity professionals and a former top executive at Intel Corporation's strategic investment unit, Intel Capital, will join the firm as a Partner effective February 2007.TPGV is the growth fund of TPG, a global alternative investment firm. Mr. Kapur will be based in Mumbai and will lead the firm's expansion stage, smaller buyouts and growth-oriented investments in India, with investments up to as much as US$75 million. Mr. Kapur will also have additional responsibility for growth and expansion investments in Japan, Australia and parts of Southeast Asia.
TPG Newbridge, TPG's Asian investment arm, already has a significant presence in India with Puneet Bhatia, Managing Director, leading TPG's efforts for buyouts and large strategic transactions in India. TPG Newbridge is part of the TPG global buyout and late stage private equity fund that invests across the globe in multiple sectors. In India, TPG has invested in Matrix Laboratories and in Shriram Finance.
"We are pleased to welcome Varun Kapur to the TPG family. India represents a compelling opportunity to invest in expansion stage and growth companies, and Varun can help sharpen that focus," said Mr. Bhatia.
"We are delighted to have Varun working on our team," said Vivek Paul, TPG Partner and former Vice Chairman of Wipro, Ltd. "Varun has established a strong reputation with investments like NIIT, India Infoline, Sasken, Elpida (Japan), and Unwired (Australia). I worked with him most recently on our FPT investment in Vietnam, where Intel Capital was a co-investor.
Varun's ability to understand value and help his portfolio companies achieve their goals sets him apart as an investor. Given TPG's strong interest in India, we are delighted to have someone of Varun's caliber join the TPG Ventures team. We plan to build the TPGV team under him so we can best address the vast and diverse investment opportunities in expansion stage and growth-oriented companies in India"
"TPG is one of the earliest private equity investors in Asia and is certainly among the most successful," Mr. Kapur said. "I view the invitation to join the firm to help oversee its substantial commitment to growth investments in the region as a unique career opportunity. I was particularly attracted by the significant value that TPG can bring as a sophisticated global investor across multiple asset classes and industries. This deep industry knowledge, a portfolio of companies that generate over $79 billion in revenues, and a combined investment pool of over $30 billion allows TPG to address every opportunity no matter the size, structure, location or industry and the ability to translate this into a compelling advantage for growth and mid market deals in India through TPG Ventures makes this opportunity particularly exciting."