Investcorp, a global leader in alternative investments, has announced the appointment of Vivek Agarwal as Senior Operating Partner for its operations in India. Agarwal, who brings over 25 years of leadership experience in the technology and business sectors, is set to lead the firm’s expansion into the software and software services industries. This move aligns with Investcorp’s strategy to tap into the rapidly growing tech sector in India, which is seen as a key area for mid-market growth. Agarwal’s appointment underscores the company’s commitment to leveraging technology to drive innovation and growth in its portfolio.
Vivek Agarwal: A Tech Industry Veteran
Vivek Agarwal is a seasoned business leader with extensive experience in technology, mergers, acquisitions, and business transformations. Before joining Investcorp, Agarwal served as the President at Tech Mahindra, one of India’s largest IT services companies. During his tenure at Tech Mahindra, he was responsible for leading the company’s global strategy, mergers and acquisitions (M&A), and expanding its businesses in the healthcare and financial services sectors. Agarwal’s role at Tech Mahindra saw him navigating large-scale transformations, focusing on tech-driven growth, and positioning the company as a leader in the IT services market.
Agarwal’s background includes a wealth of experience in driving growth through strategic investments, operational improvements, and technology adoption. His leadership in tech-focused transformations—particularly within private equity and M&A settings—makes him an ideal candidate to help Investcorp explore growth opportunities within the Indian market’s tech ecosystem. With this wealth of experience, he is expected to bring valuable insights and strategic guidance to Investcorp’s India operations.
The Growing Role of Technology in Investcorp’s Strategy
Investcorp has long recognized the importance of technology as a key driver of growth, particularly in mid-market businesses. The firm’s strategy focuses on identifying high-potential companies within the technology and software sectors, which are experiencing rapid expansion in India. By tapping into this space, Investcorp aims to enhance the value of its portfolio and continue driving growth across its investments.
India, with its burgeoning digital ecosystem and rapidly expanding IT services market, offers an excellent opportunity for Investcorp to scale its tech-related investments. The Indian technology industry is estimated to continue growing at a fast pace, especially with increasing demand for digital transformation, automation, and cybersecurity solutions across industries. With Agarwal’s leadership, Investcorp is poised to capitalize on these trends and position itself as a significant player in the tech investment landscape.
Agarwal’s role at Investcorp will involve identifying new opportunities in the tech sector, from software development to digital transformation services. He will focus on high-growth areas, particularly where technology can drive innovation and create value. In addition to scouting for new investments, Agarwal will also work on enhancing the performance of Investcorp’s existing technology-related portfolio companies.
Agarwal’s Role at NuSummit: A Strategic Acquisition
As part of his new responsibilities, Agarwal will also join the board of directors at NuSummit, a digital transformation and cybersecurity services firm. Investcorp acquired NuSummit last year in a move to broaden its technology-focused investments. The acquisition was valued at approximately Rs 1,000 crore, and it reflects Investcorp’s commitment to strengthening its footprint in the tech sector.
NuSummit, formerly known as NSEIT, provides a wide range of services, including digital transformation, cybersecurity, and technology solutions, primarily for clients in the capital markets, banking, and insurance industries. With a growing client base of global companies, NuSummit has established itself as a key player in the digital services space. Investcorp’s decision to acquire the company was driven by the growing demand for digital transformation solutions in India and around the world.
Agarwal’s deep expertise in leading technology-driven growth and business transformations will be key in shaping NuSummit’s future strategy. As part of his role, Agarwal will work closely with NuSummit’s leadership team to drive innovation, enhance operational efficiency, and explore new growth avenues. His strategic insights into M&A, technology, and global business development will be invaluable as NuSummit seeks to expand its offerings and reach new markets.
The leadership team at Investcorp sees Agarwal’s involvement with NuSummit as a critical component in maximizing the potential of the acquisition and positioning the company for future success. NuSummit’s expansion into new geographies and industries will likely benefit from Agarwal’s vast experience in scaling tech businesses on a global scale.
What Leadership Has to Say
Gaurav Sharma, Head of India Investment Business at Investcorp, shared his excitement about Agarwal’s appointment. He believes that Agarwal’s background in global technology businesses will be instrumental in helping Investcorp grow its tech-focused investments in India. Sharma commented, “Vivek’s experience with large-scale technology firms is exactly what we need to grow in the mid-market tech sector. We are confident that his leadership will help strengthen our India franchise and deliver significant value to our portfolio.”
Agarwal himself expressed enthusiasm about joining Investcorp and taking on his new role. He stated, “I am excited to take on the role of Senior Operating Partner at Investcorp, focusing on technology investments. Technology is fundamentally reshaping industries, and I believe that companies with unique offerings and deep expertise in both technical and industry-specific areas will lead the way. I look forward to working with the talented team at NuSummit and contributing to Investcorp’s ambitious plans for the future. Together, we can unlock new opportunities and deliver value to our stakeholders.”
Investcorp’s Growing Presence in India: A Focus on Tech and Mid-Market Growth
Founded in 1982 and headquartered in Bahrain, Investcorp has evolved into a global leader in alternative investments. The firm manages private equity, real estate, credit, and other alternative assets across various regions, with a particular focus on markets like the Middle East, Asia, and the United States.
Investcorp’s foray into India began with its acquisition of IDFC Alternatives’ private equity and real estate businesses in 2019. This move helped the firm build a stronger foothold in the country and enabled it to deepen its investment portfolio in key sectors like healthcare, finance, and real estate. Over the years, Investcorp has made a series of strategic investments in Indian businesses, such as Medi Assist Healthcare, InCred Finance, and ASG Eye Hospitals.
To date, Investcorp has completed 18 investments in India, with notable exits including ASG Eye Hospitals, Medi Assist Healthcare, Safari Industries, NephroPlus, and Bewakoof. These successful investments reflect the firm’s expertise in identifying high-growth opportunities and delivering value to its stakeholders.
Currently, Investcorp’s India portfolio includes companies like Wakefit, InsuranceDekho, and Wingreens Farms, all of which have made significant strides in their respective sectors. By continuing to grow its portfolio and capitalize on India’s thriving economy, Investcorp is poised to expand its influence in the country’s investment landscape.
Conclusion: A New Chapter for Investcorp in India
Vivek Agarwal’s appointment as Senior Operating Partner marks an exciting phase in Investcorp’s growth strategy in India. With his leadership, Investcorp will be able to deepen its focus on the rapidly evolving technology sector and enhance the value of its existing investments. His role in guiding the firm’s expansion into software and services is vital to tapping into India’s growing tech ecosystem and the immense opportunities it offers.
As technology continues to drive industry transformations across the globe, Investcorp’s ability to leverage Agarwal’s experience in global-scale tech businesses will be instrumental in shaping its future success. With Agarwal on board, Investcorp is well-positioned to unlock new opportunities, enhance its India portfolio, and continue delivering value to its stakeholders in the years ahead.
