British International Investment (BII), the UK’s development finance institution and impact investor, has appointed Shilpa Kumar as Managing Director and Head of India, the firm announced on Wednesday.
Based in Mumbai, Kumar will oversee BII’s India operations, including the deployment of climate finance and inclusive growth investments across sectors. She will lead a 58-member team spread across Mumbai and Bengaluru and report to Srini Nagarajan, Managing Director and Head of Asia at BII.
Kumar brings over three decades of leadership experience in banking and financial services. She most recently served as a partner at Omidyar Network India, where she led strategy and investments in responsible tech, urban infrastructure, and inclusive property rights, along with policy work in financial inclusion.
Before joining Omidyar in 2019, Kumar spent over 25 years with the ICICI Bank group, where she built and scaled its global markets business. She later served as the MD and CEO of ICICI Securities, a leading investment bank and digital equity brokerage in India.
Kumar’s appointment marks the second recent instance of a former Omidyar Network India executive joining a global investment institution. Earlier this month, DealStreetAsia reported that the International Finance Corporation (IFC), part of the World Bank Group, had hired Treasa Mathew, also an Omidyar alum, to head its South Asia VC team, replacing Ruchira Shukla.
India remains a crucial destination for BII and represents about 20-21% of its balance sheet, with $2.6 billion committed and invested in the country. On an annual basis, around half a billion dollars is invested in India.
The DFI’s average ticket size on the fund side is typically around $25 million, with India seeing larger investments ranging from $30-50 million, while Southeast Asia typically receives investments between $15-25 million.
BII’s investments in India include Veritas Finance, Ayana Renewable Power, CARE Hospitals, IIFL Finance Ltd and Everest Fleet.
