Norwest Venture Partners has appointed Sohil Chand as a managing director for its India operations.
As NVP India invests more broadly and expands, Chand will help capitalise on growth equity opportunities in India, said Promod Hague, managing partner of Norwest.
Chand joins from Goldman Sachs’ Asian Special Situations Group, a balance sheet investing group. As an executive director, he was tasked with building and running the group's India business, and made more than $300 million of private equity and PIPE investments in the country. He was previously an executive director in Goldman Sachs’ investment banking unit, where he advised corporate and private equity funds on major acquisitions.
Based in Mumbai, Chand will be responsible for making Norwest growth equity investments in Indian companies across sectors such as telecom, technology, financial services, infrastructure and manufacturing.
Last year, the firm opened its first Indian office in Mumbai and hired Niren Shah as a managing director.
While most of Norwest Venture’s deals have been in the US and India, it has also made investments in China and Israel.
In April, Norwest Venture hired Mohan Kumar as an executive director for its India operations. Based at the firm's second Indian office in Bangalore, Kumar focuses on making technology investments in the country.
The firm has four direct investments in India: Adventity, a knowledge process outsourcing company; Persistent Systems, a software development company; Sulekha.com, an online community and networking website; and Yatra, an online travel services company. It has also made 20 investments in cross-border portfolio companies that operate in both the US and India.