India Value Fund Advisors rebrands as True North

The India-focused firm is currently deploying its fifth fund, 2015-vintage vehicle India Value Fund V which raised $682m.

Mumbai-based private equity and venture capital firm India Value Fund Advisors has rebranded as True North (Managers) this month, according to a company statement.

Along with the rebranding, the firm said it will retool its sector focus into four areas – healthcare, financial services, consumer, and technology products and services.

True North manages around $2 billion in assets across five funds. The firm is in the process of deploying its latest vehicle, the 2015-vintage $682 million India Value Fund V as well as the $600 million India Value Fund IV and $400 million India Value Fund III, according to PEI data. The firm’s first two vehicles have been fully invested.

Investors in True North’s funds include the Danish fund of funds manager ATP, the CDC Group, and the University of Oklahama Foundation.

Over the last decade and a half, the firm has invested in over 35 mid-sized companies and exited 13. Among its recent investments are marketing solutions company Born and the South Indian hospital group Manipal Hospitals.

Vishal Nevatia, True North managing partner, said in a statement: “With the renewed sector focus, we will continue to build admired businesses across the four sectors. Moreover, this transformation from IVFA to True North comes at the right time when the sector teams are ripe with the expertise and experience gained over the last 17 years, with most members having invested across two to three economic cycles.”