PE/VC Firms Expand Operating Staff in India, With Kedaara and Cornerstone Leading the Way
Kedaara Capital Expands Advisory Team with Appointment of Nitin Paranjpe
Private equity firm Kedaara Capital has made a strategic move by appointing Nitin Paranjpe as its chief mentor and operating partner. The appointment, which took place earlier this week, adds to Kedaara Capital's growing team of experienced advisers.
Nitin Paranjpe, the former CEO of Hindustan Unilever, brings a wealth of knowledge and expertise to the table. His extensive experience in the consumer sector will be invaluable as Kedaara Capital focuses on investments in this area. In addition to his role as chief mentor, Paranjpe has also been appointed as an adviser for investments in the consumer sector.
Kedaara Capital's decision to expand its advisory team is part of a broader strategy to make strategic investments across various sectors. The firm has also made advisory appointments for investments in other sectors, with a focus on the consumer sector.
This move follows the appointment of Keki Mistry, the former managing director and CEO of HDFC Ltd, as an adviser for investments. Mistry joined Kedaara Capital a few months ago.
In addition to its focus on the consumer sector, Kedaara Capital has also made investments outside this area. For instance, the firm recently acquired a stake in the logistics sector through its investment in SmartShift Logistics Solutions Pvt Ltd, the parent company of the on-demand logistics unicorn Porter. This investment was part of a $200 million Series F funding round co-led by Kedaara Capital and Wellington Management at a valuation of $1.2 billion. The investment has been approved by the Competition Commission of India and will help Porter expand operations, team size, technology, and operational capabilities.
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[1] Competition Commission of India approval for Porter's $200 million Series F funding round: [Link to source] [2] Kedaara Capital leads $200 million funding round for Porter: [Link to source] [3] Kedaara Capital's investment in Porter: [Link to source] [4] Kedaara Capital expands advisory team: [Link to source] [5] Kedaara Capital appoints Nitin Paranjpe: [Link to source]
Nitin Paranjpe's appointment as an adviser for investments in the consumer sector further strengthens Kedaara Capital's finance-centric moves towards strategic investments. By expanding its advisory team, Kedaara Capital intends to make impactful investments across various sectors, including the consumer sector.
