TVS plans fund for family biz

The TVS group is planning to set up an India-focused equity fund that will stress on entrepreneur development and will invest in mid-cap family-owned businesses. Founded by Mr Gopal Srinivasan of the TVS group, TVS Capital Funds Ltd, an asset management company, will start its activities with an office in Chennai.
Mr Srinivasan, chairman of the company, said: "Indian entrepreneurs need a strategic growth partner that understands the nuances of building businesses and can offer professional services along the expansion path. TVS Capital Funds will strive to be a strategic partner to entrepreneurs and fund their development." He said the AMC would focus on the family-owned businesses, especially in Tier 2 and 3 cities that are looking for a strategic partner to expand their businesses.
TVS Capital Funds has hired Mr Suresh Raju as general partner from Deutsche Bank’s technology investment banking practice in Boston to help launch the activities of this new firm. He said the TVS group would be the anchor of the fund and group would raise additional fund from the market. He however declined to mention the size of the fund. Mr Raju said the company would leverage the expertise the group had in different industry verticals. In addition, the company would look at the new emerging sectors for investment.