Equirus Group has appointed Manishkumar Jain as Chief Executive Officer of its newly launched non-deposit-taking NBFC. Separately, healthcare-focused PE firm Quadria Capital has roped in Vikas Dugar, a former executive of Investcorp, as a director in its investment team.
Equirus Group hires CEO for NBFC arm
Equirus Group has appointed Manishkumar Jain as Chief Executive Officer of its newly launched non-deposit-taking non-banking financial company (NBFC).
The firm recently received approval from the Reserve Bank of India (RBI) to set up Equirus Finance, marking its entry into the lending business.
Jain, who has over 20 years of experience, has previously had stints at ASK Group, Nuvama (now a PAG Group entity), Anand Rathi Global Finance, and Deloitte.
He will lead Equirus Finance as the firm looks to provide lending to high-net-worth individuals, family offices, and company promoters.
Quadria Capital ropes in former Investcorp exec
Healthcare-focused private equity (PE) firm Quadria Capital has roped in Vikas Dugar, a former executive of Investcorp, as a director in its investment team, per a VCCircle report.
Dugar carries with him over 20 years of experience in PE, M&A, and corporate finance across several verticals, such as consumer products and ecommerce, besides healthcare and pharmaceuticals.
He has previously worked with Piramal Alternatives, a unit of the Piramal Group, Cipla’s venture investing arm, and PineBridge Investments in the deal-making space. He has also served in corporates such as The Coca-Cola Company and Maruti Suzuki, among others.
Quadria closed its third fund earlier this year with total commitments of $1.07 billion, significantly exceeding its $800-million target. The firm focuses on healthcare investments across South and Southeast Asia.
