Indian private equity fund TVS Capital Funds has named Naveen Uni as its news managing partner, while Affinity Korea’s head Sam Lee has resigned.
Naveen Unni named managing partner at TVS Capital
Rupee capital private equity fund TVS Capital Funds has announced the joining of industry veteran Naveen Unni as its new managing partner.
Unni brings two decades of consulting experience, having served as the managing partner for McKinsey and the company’s Chennai office and leading their India sustainability practice, according to the announcement.
As managing partner, Unni is expected to enhance TVS Capital’s vision of providing a solid capital platform to emerging entrepreneurs. His appointment followed a series of leadership hires at TVS Capital Funds over the last 18 months.
The appointments include Anuradha Ramachandran as managing partner – Investments; Krishna Ramachandran as managing partner and chief operating officer; and Praveen Sridharan as partner – Investments.
The firm, known for investing in technology-driven financial services and B2B services, has managed ₹3,500 crore across 32 investments in three funds.
Affinity’s Korea head Sam Lee quits
Sam Lee, the head of Affinity Equity Partners’ Seoul office, has resigned from the global investment firm, according to The Korea Economic Daily, in a move that surprised the local private equity industry.
The reasons for Lee’s resignation and future plans remain unclear. Prior to his resignation, Lee, who joined Affinity in 2007, was expected to play a key role in leading Affinity following the retirement of co-founder Park Yong-taeg.
He took the reins of the Seoul office in 2018. Lee’s prior experience includes a seven-year tenure with McKinsey & Co, where he advised tech and finance companies on corporate strategy and post-merger management.
Since its establishment in 2002, Affinity has been part of some significant deals in Korea. Notably, the firm, in conjunction with KKR & Co, acquired and later resold Korea’s leading beer maker Oriental Brewery for $1.8 billion and $5.8 billion, respectively.
The firm also held an 80% stake in electronics retail chain Himart before divesting in 2007.