Indian private equity (PE) firm True North has reportedly lost a managing partner, while a former WestBridge Capital executive has floated a new venture capital (VC) firm.
True North managing partner steps down
Kapil Singhal, a managing partner at PE firm True North responsible for its private credit strategy, has stepped down, according to a VCCircle report.
Singhal joined the investment firm in 2021 to establish a best-in-class credit platform at True North. Before joining the Indian PE firm, he was the head of India credit at KKR. His previous roles included co-heading the Edelweiss Special Opportunities Fund and running the India trading desk at Goldman Sachs.
True North set up its private credit platform in 2022 and raised Rs 1,000 crore ($120 million) for its first fund in 2023.
Former WestBridge Capital exec sets up VC firm
The VC firm, called Alyxis Venture Partners, is seeking to raise $150 million for its debut fund, the report added.
Before launching the venture firm, Ramanathan founded StaticFlow, an accounting firm that offers finance, accounting and compliance solutions to startups, family trusts, and other clients, in 2022.
He quit WestBridge Capital two years ago after a 19-year stint.
MoneyHero appoints CFO
MoneyHero Group, a Singapore- and Hong Kong-based fintech firm backed by billionaire Richard Li, announced the appointment of Hao Qian as the company’s new chief financial officer (CFO), effective immediately.
As CFO, Qian will oversee the company’s financial systems and teams, including accounting, capital markets, compliance, and investor relations.
He joins MoneyHero from Alibaba Group, where he held numerous senior finance positions over his nearly eight years with the tech giant, including serving as CFO of its Lazada e-commerce business across multiple markets.
Before joining Alibaba, he was a senior financial analyst at Amazon. He started his career with Credit Suisse, where he was a risk analyst focused on commodities and later an assistant vice president in the global credit products division.