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| Mohit Burman & Brian Brown join IndiaCo Ventures board |
| Announcement / Corporate Aug 22, 2009, 18:20 IST |
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IndiaCo Ventures Limited (BSE:Indiaco) a Pune based private equity & financial services company announced appointment of Mr. Mohit Burman & Mr. Brian Brown as Independent Directors. Last week company announced the appointment of Mr Shyam Iyer.
“The outstanding diverse expertise of the new directors will bring in valuable inputs towards making IndiaCo a global financial house in coming years”, said Mr. Rahul Patwardhan, Vice Chairman and Managing Director, IndiaCo Ventures Limited.
Mr. Mohit Burman has over 20 years of experience into several high-growth and sunrise sectors of Financial Services. He has been the driving force behind growing Burman family business to a commanding position amongst an august league of large corporate businesses. The Burmans hold a 74 per cent stake in UK's largest insurance company Aviva. Besides being actively involved in expanding Dabur India's presence in the overseas markets, Mr. Burman also played a critical role in the acquisition of Balsara's Home and Hygiene business as well as Fem Care Pharma Ltd. by Dabur India.
Mr. Burman said “IndiaCo has a very unique approach to investment and it holds the requisite strategy & experience to consistently provide maximum return to the deployed capital. I would like to get associated with IndiaCo and jointly exploit opportunities of raising a Private Equity fund.”
“Mohit will be instrumental in raising capital fund for IVL and PE fund at IVL. His expertise will bring in invaluable insights to strengthening IVL to a global PE house” said Mr. Rahul Patwardhan.
Mr. Brian Brown has over 25 years of distinguished career in investment banking, capital markets and securities business. For last 20 years he has focused on emerging markets, more specifically Indian capital markets. In April 2000 he joined Salomon Smith Barney (now Citigroup Global Markets) as Managing Director, Head of Equities.
Mr. Brown said "It is a pleasure to be a Director of IndiaCo Ventures. I look forward to working with the dynamic group of people they have assembled".
“Mr. Brown has an outstanding track record of significant achievements across the globe. He will play a crucial role in leveraging opportunities outside India, while at the same time , bringing in new partnerships to be leveraged for our portfolio companies”, said Mr. Patwardhan.
Earlier Mr. Shyam Iyer, who was also roped in earlier as Independent Director on IVL board, has served as an advisor/director in several companies internationally with varied responsibilities in relation to activities encompassing Corporate Finance Advisory (both Debt & Equity), Mergers & Acquisitions and Private Equity. He started his career in 1987 with Standard Chartered Bank, in 1993 he left India and joined Merrill Lynch International, initially in London and later in Dubai from 1994 to 2000 as a Private Banker responsible for the Middle East and South Asia region, he has done several cross border GDR issues which are listed in New York, London and Luxembourg. Shyam then founded Platinum Spring in 2001 as a Dubai based boutique investment firm, specializing in Corporate Finance (Debt and Equity), Mergers and Acquisitions (M&A) and Private Equity transactions. Since inception, he established various partnerships internationally and in India including Pannell Kerr Foster with whom he had an exclusive arrangement for all corporate finance advisory and Private Equity originations for their client base in the UAE.
About IndiaCo Ventures Limited
IndiaCo Ventures Limited is a private equity & financial services firm listed on BSE. IVL engages with companies where it can bring about positive change through strategic, financial, technological and operational involvement, thus revolutionizing the portfolio company’s fundamental parameters. IVL invests through three of its vehicles – IndiaCo Telecom, IndiaCo Healthcare and IndiaCo Clean Energy. These are 100% subsidiaries of IndiaCo Ventures and focused on telecom, healthcare and clean energy sectors respectively.
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