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Empowering India's NextGen Entrepreneurs
Managed by TVS Capital Funds
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
TVS Capital Funds Private Limited (TCF) is one of India's leading growth private equity funds, founded in 2007 by Gopal Srinivasan — a third-generation entrepreneur of the iconic TVS Family. TCF is registered as a SEBI Portfolio Manager (INP000004466) and is the Investment Manager to TVS Shriram Growth AIF Trust (SEBI Reg. IN/AIF2/17-18/0503, Category II) and TVS Shriram Growth AIF Trust II (SEBI Reg. IN/AIF2/23-24/1429, Category II). The firm is headquartered in Chennai at No. 119, Harita Towers, 2nd Floor, St. Mary's Road, Abhiramapuram, Chennai – 600018, with a Mumbai office. TCF is conceived as a 'Designed for India' fund, focused on partnering next-generation entrepreneurs to build scalable, successful multi-decadal businesses. The platform has invested in more than 35 companies across three funds and successfully exited two funds. Portfolio companies include Nykaa, RBL Bank, NSE, Indian Energy Exchange (IEX), GoDigit, Yubi and Five Star Business Finance. The current active fund, TVS Shriram Growth Fund 3, has commitments of ~₹1,900 crore, making TCF one of India's largest Indian Rupee capital funds. TVS Shriram Growth Fund 4 has received CRISIL Fund Management Grading 1. All gains generated through investments stay in India. The firm has 15+ years of experience and employs an experienced investment team supported by an eclectic ecosystem of industry advisors.

Gopal Srinivasan
Founder, Chairman & Managing Director
Gopal Srinivasan is the Founder, Chairman and Managing Director of TVS Capital Funds. He is a third-generation member of the illustrious TVS Family and a serial entrepreneur with over three decades of experience, during which he has founded, steered and scaled more than 10 ventures across diverse verticals. Under his leadership, TCF has grown into one of India's largest Rupee capital funds with a corpus of ₹2,000 crore, investing in more than 30 businesses including Nykaa, RBL, NSE, IEX, GoDigit, Yubi and Five Star Business Finance. He is a Member of SEBI's Alternative Investment Policy Advisory Committee (AIPAC) since 2015, a Board Member of the Reserve Bank Innovation Hub (RBIH), Former Chairman of IVCA (2016–2018), Non-official Member of the National Startup Advisory Council (NSAC), and a Founding Member of The Chennai Angels and TiE Chennai. He is Honorary Consul General for the Netherlands in Tamil Nadu. He chairs the Chennai International Center (CIC) think tank and serves on the University of Michigan Ross School of Business Advisory Board. Chairman of TVS Electronics Ltd and Director on the Board of TVS & Sons. Education: B.Com, Loyola College Chennai; MBA, University of Michigan.

Naveen Unni
Managing Partner
Naveen Unni is Managing Partner at TVS Capital Funds. He brings nearly two decades of consulting experience at McKinsey & Company, where he held multiple leadership roles including Managing Partner of the Chennai location (leading India sustainability practice), Managing Partner of the Perth location (leading Australian Electric Power and Natural Gas practice and Australian Organization practice). His expertise spans manufacturing, mining, oil & gas, infrastructure and utilities across India, Southeast Asia and Australia, as well as leadership development, digital transformation and business transformation. He sits on the advisory boards of the University of Western Australia Business School and KC High School, Chennai, and is a member of the YPO Chennai Chapter. Education: B.Tech (Civil Engineering), IIT Madras; MBA, IIM Ahmedabad.

Praveen Sridharan
Partner
Praveen Sridharan is a Partner at TVS Capital Funds, working across investment and platform teams on origination, transactions, portfolio management and fundraising. He is an investment professional with 14+ years of experience across buy-side and sell-side roles spanning the full lifecycle of investments. Prior to TCF, he was a Director at Emerald India, a pan-Asia investment platform set up by KKR, and also played an active role in setting up the Emerald platform. He previously worked at Ambit Corporate Finance (M&A and PE exposure) and Cognizant Technology Solutions. Education: B.Tech, IIT Madras; MBA, IIM Bangalore.

Chandrasekar V
Partner
Chandrasekar V (Chandra) is a Partner at TVS Capital Funds with more than two decades of experience at McKinsey, where he specialised in building, transforming and leading high-performance research teams. He was Leader of McKinsey's Client Capabilities Hubs in Chennai and Bangalore (which he helped set up), overseeing close to 300 colleagues. He was also Leader of one of McKinsey's largest research teams conducting broad and deep research across topics, functions and geographies, and served as a Knowledge Specialist in the TMT sector. He loves quizzing, is an avid motorsports enthusiast and enjoys reading and music. Education: MBA (Information Systems), University of Bombay; Chemical Engineering, University of Madras.

Rajalakshmi Vaidyanathan
Principal
Rajalakshmi Vaidyanathan (Raji) is a Principal at TVS Capital Funds with 12+ years of experience in financial services across debt and equity markets. In her last role, she was Regional Head (South) at L&T Financial Services, responsible for P&L of the wholesale business across Tamil Nadu, Kerala and Karnataka. Prior to that, she was part of the Investment Banking team at SBI Capital Markets, managing end-to-end capital market transactions. She is a trained classical dancer who has practised the art for over 15 years. Education: MBA, IIFT Delhi; B.Sc (Mathematics), University of Madras.

Suraj Kumar Majee
Principal
Suraj Kumar Majee is a Principal at TVS Capital Funds. Prior to joining TCF, he worked in the middle office of UBS Investment Bank focusing on Healthcare transactions in US and EMEA. He graduated as an Industrial Engineer from NIT Trichy, where he held leadership roles in its cultural festival and Robotics club, and co-founded a startup in corporate gifting. He is a certified Scuba Diver.

Vijay C P
Senior Associate
Vijay C P is a Senior Associate at TVS Capital Funds. Prior to joining, he was a Manager at Bain & Company in their PE Practice across Mumbai and Delhi, running commercial diligences, sector scans and portfolio work across financial services, technology and consumer retail for domestic and global PE/sovereign wealth funds. He is a fitness enthusiast, professionally trained in squash and kettlebell lifting. Education: B.Tech (Civil), IIT Bombay; PGDM Finance (IR 6), IIM Lucknow; CFA Charterholder.

Sudarshan Raghuraman
Senior Associate
Sudarshan Raghuraman is a Senior Associate at TVS Capital Funds. He was previously a Senior Consultant at BCG, experienced in Corporate Strategy, M&A and Business Finance across FMCG, E-Commerce, Tech and Energy. Prior to BCG, he worked with ITC Ltd. and Bosch India. Education: PGP, Indian School of Business (Merit Holder); Chartered Accountant; CFA Level 1.

Karthik Ganesh
Associate
Karthik Ganesh is an Associate at TVS Capital Funds. Before joining, he was an Associate in the India Investment Banking team at Rothschild & Co, Mumbai, working on mergers, acquisitions and equity advisory across financial services, technology and consumer sectors. Prior to that he was an Analyst in the Consumer & Retail coverage team at J.P. Morgan's CIB group in Mumbai. A state-level cricketer from Tamil Nadu and avid runner. Education: MBA, IIM Kozhikode; Chartered Accountant (AIR 21 in CA Final, AIR 43 in CA Intermediate); CFA Charterholder; FRM.

Aiswarya Ram
Associate
Aiswarya Ram is a Research Associate at TVS Capital Funds. She was previously a Senior Associate at E&Y LLP, experienced in Debt and Special Situations, Deal Execution and Stakeholder Engagement. Prior to EY, she worked at J.P. Morgan. A deep interest in Carnatic music; she continues to perform as a vocalist. Education: PGDM, IIM Kozhikode (Gold Medallist); B.Tech, Electrical & Electronics Engineering.

Sreeraman V.
Senior Analyst
Sreeraman V. is a Senior Analyst at TVS Capital Funds. He was previously with the Aditya Birla Group under the Finance Leadership Program (batch of 2021, exclusively for CA Final Rank Holders), working with the Strategy team of the Chemicals business, the Corporate Economics Cell, Strategy team of Digital Fashion Ventures, and as Finance Manager for Reebok India. He completed his articleship at Grant Thornton (Direct Tax & Regulatory Services) and PricewaterhouseCoopers (Audit & Assurance). A trained classical flutist. Education: Chartered Accountant.

Arun Balaji
Analyst
Arun Balaji is an Analyst at TVS Capital Funds. Prior to joining, he was at Kotak's Investment Banking division, working on growth-stage PE across sectors, sponsors coverage and Industrials/TMTE IB transactions. He is a rank-holder Chartered Accountant and worked in the Audit department of Deloitte. A cinephile and avid reader of fiction. Real Madrid fan.

Ashwath Sajith
Analyst
Ashwath Sajith is an Analyst at TVS Capital Funds. Previously, he worked as an Analyst at Convergent Finance (PE, Mumbai) across consumer, industrials, services and pharma deals, and interned with Niyo and Mobile Premier League product teams. He is a KVPY scholar and a house/electronic music enthusiast. Education: B.E. (Electrical & Electronics), BITS Pilani.

Manasa Krishnan
Analyst
Manasa Krishnan is an Analyst at TVS Capital Funds. She graduated with top honours in Economics and Business Studies from Krea University. Previously interned at TCF and the Drishtee Foundation. A trained theatre artist, pop culture aficionado, avid tea-drinker and Asian cuisine enthusiast. She was editor-in-chief of her college newspaper and campus correspondent for Her Campus.

Krishna Ramachandran
Managing Partner (COO/CFO)
Krishna Ramachandran is Managing Partner at TVS Capital Funds, overseeing operations and finance. He brings 30+ years of experience across client engagement, business transformation, digital transformation, finance and operations. Until recently he was Managing Director at Accenture, responsible for their Chennai Operations. He has also been associated with Royal Philips, Allianz, KPMG and Vodafone. A public speaker on Corporate Governance, Digitisation, RPA and Finance Transformation, and an Executive Coach and visiting faculty. Interests: Cycling, Yoga, Ikebana. Education: Chartered Accountant, Management Accountant, Company Secretary.

Mani Krishna Iyer
Senior Advisor
Mani Krishna Iyer is a Senior Advisor at TVS Capital Funds, guiding Corporate Development and Research Functions. A professional banker with exposure on both asset and liability sides, he has handled more than 500 debt transactions in the SME space from origination to consummation, including recovery. He has evaluated 80+ Venture/SME funds and facilitated support to 130+ funds under various Fund of Funds programmes at SIDBI, where he retired as Chief General Manager heading Treasury. Education: Post Graduate in Management; CAIIB.

Ravi Krishnan
Deputy CFO & Principal (Finance)
S. Ravi Krishnan is Deputy CFO and Principal, Finance at TVS Capital Funds. He has 13+ years of post-qualification experience. Previously at Sify Technologies handling Financial Reporting, Direct and Indirect Taxes for the Group, with exposure to compliance, restructuring, due diligence and digital initiatives. He has also served as Partner at Sri, Sesha & Ravi (CA firm) and Manager at Yoganandh & Ram. Education: Chartered Accountant; Company Secretary; CISA; DipIFR; Advanced Diploma in Management Accounting.

K. C. Srinivasan
Senior Manager (Administration & Compliance)
K. C. Srinivasan is the Senior Manager at TVS Capital Funds with 28 years of experience across TVS Group companies, including 13 years specifically with TCF. He has extensive experience in administrative management, HR, program management and compliance. Education: MBA, Annamalai University, Chennai.

Rohini Kamble
Senior Executive (Mumbai Operations)
Rohini Kamble is a Senior Executive at TVS Capital Funds, in charge of the Mumbai office administration. She has 22+ years of administrative and operational experience across IT and financial services, and has been with TCF for 9 years. Prior to TCF, she worked at Alcatel-Lucent, Telstra VComm, Tatanet and Abacus. Education: BA (Sociology), Mumbai University; MBA (HR & Administration).

R. Jagannathan
Advisor (Taxation & Regulatory)
R. Jagannathan is an Advisor for Taxation & Regulatory matters at TVS Capital Funds. He has over 35 years of experience in Taxation and Finance and held various positions in TVS Group companies. A member of ICWA with a Diploma in Financial Management from IFMR University and a Diploma in Taxation. A curious learner, good mentor and passionate gardener.

D. Sundaram
Director (Former Vice Chairman & CFO, HUL)
D. Sundaram is a Director on the Board of TVS Capital Funds. He was the former Vice Chairman & CFO of Hindustan Unilever Limited (HUL) with 34 years of professional experience in corporate finance, business performance, governance, talent management and strategy. He serves as Independent Director on the boards of Infosys, ACC, GSK Pharma India, Crompton Greaves Consumer, SBI General Insurance and Schneider Electric India. Two-time winner of CNBC TV18's 'CFO of the Year for FMCG Sector' (2006 and 2008) and 'Best Independent Director in 2019' by Asian Centre for Corporate Governance. Education: MMS; Fellow, Institute of Cost Accountants; Harvard Business School alumnus.

Raghavan R. S.
Non-Executive Non-Independent Director (Former ED & CFO, TVS Capital)
R. S. Raghavan is a Non-Executive Non-Independent Director of TVS Capital Funds and former Executive Director and CFO of the firm. A Chartered Accountant, Cost Accountant and Company Secretary with nearly 40 years of experience across manufacturing and financial services industries including VCPE, NBFC, Wealth Management and Manufacturing. Currently serves on boards of TVS Group companies.

N. Lakshmi Narayanan
Director (Co-Founder, Cognizant)
N. Lakshmi Narayanan is a Director on the Board of TVS Capital Funds. He is the Co-Founder of Cognizant and served in senior leadership roles over 40+ years in IT. He is Director at ICT Academy, Chennai Mathematical Institute and Shriram Capital. He is passionate about higher education, research in Math and Computer Science and entrepreneurship through The Chennai Angels and TiE. Active in nonprofits including United Way and CHILDS Trust Medical Research Foundation.

Narayan Ramachandran
Director (Former CEO, Morgan Stanley India)
Narayan Ramachandran is a Director on the Board of TVS Capital Funds. He is Chairman of TeamLease Services and Co-Chairman of Unitus Capital. He is Chairman of Vivriti Asset Management and UC Inclusive Credit, and Co-founder of Takshashila Institution and InKlude Labs. He served 8 years as Chairman of RBL Bank. Previously, he was Country Head of Morgan Stanley India and Head/Lead Portfolio Manager of Morgan Stanley's Global Emerging Markets and Global Asset Allocation teams, managing over $25 billion. He began his career at Goldman Sachs. Education: B.Tech (Chemical Engineering), IIT Bombay; MBA, University of Michigan; CFA Charterholder.

Ashish Bharat Ram
Director (Chairman & MD, SRF Ltd.)
Ashish Bharat Ram is a Director on the Board of TVS Capital Funds. He is Chairman and Managing Director of SRF Ltd., which he joined as MD in January 2007. Under his leadership, SRF has grown into a global conglomerate (market cap ~USD 9 billion) across Fluorochemicals, Specialty Chemicals, Packaging Films and Technical Textiles in four countries. Prior to SRF, he worked at American Express Bank India and Toyota Motor Corporation Japan. Named India's Best CEO in emerging and mid-sized company categories by Business Today in 2020 and 2023. Education: Economics, Delhi University; MBA, Cornell University (Johnson School). A single-digit handicap golfer.

Ramesh Iyer
Director (Vice Chairman & MD, Mahindra Financial Services)
Ramesh Iyer is a Director on the Board of TVS Capital Funds. He is Vice Chairman & Managing Director of Mahindra & Mahindra Financial Services and President – Financial Services Sector & Member of Group Executive Board at Mahindra & Mahindra. He has been instrumental in building Mahindra Finance into one of India's leading rural finance companies since 1994, overseeing 30,000+ employees across 1,400 branches. He manages the Mahindra Financial Services Sector including MMFSL, Mahindra Insurance Brokers, Mahindra Rural Housing Finance, Mahindra Asset Management and Mahindra Trustee Company. Education: B.Com; MBA, Mumbai University; alumni of IIM Bangalore, Michigan Business School, Harvard Business School and IMD Switzerland.

Shyam Srinivasan
Director (Former MD & CEO, Federal Bank)
Shyam Srinivasan is a Director on the Board of TVS Capital Funds. He had a 14-year tenure as Managing Director & CEO of Federal Bank, during which he expanded its footprint, strengthened asset quality and fostered a culture of innovation. He has received accolades including Business Standard Banker of the Year (2020) and Forbes Icon of the Year (2025). He is currently Non-Executive Chairman of FedBank Financial Services.

Subhasri Sriram
Director (MD & CEO, Shriram Capital)
Subhasri Sriram is a Director on the Board of TVS Capital Funds. She is currently MD & CEO of Shriram Capital (P) Limited, the holding company of the Shriram Group. A seasoned professional with 30+ years of experience, including 25 years within the Shriram Group's Financial Services business, she served as Executive Director & CFO of a prominent listed NBFC within the Group for 15+ years. Her financial acumen has been recognised with 'Best Performing CFO' by CNBC TV18 (2013) and 'Most Influential CFO in India' by CIMA (2016). Education: Postgraduate in Commerce; Fellow Member of ICMA and ICSI.

Mithun Sacheti
Director (Founder & former CEO, CaratLane)
Mithun Sacheti is a Director on the Board of TVS Capital Funds. He is the Founder and former CEO of CaratLane, India's leading omni-channel jewellery brand, which he scaled to ₹3,000+ crore in revenue with a 5-year CAGR of 50%. In 2023, he exited CaratLane by selling his remaining stake to Titan Company for ₹4,620 crore (valuation ₹17,000 crore — India's largest D2C e-commerce transaction). He is now an active investor and mentor focused on fintech, consumer goods, apparel and infrastructure.

G. Mahalingam
Advisor (Ex-Wholetime Member, SEBI)
G. Mahalingam is an Advisor to TVS Capital Funds. He was Executive Director and Regional Director of the Reserve Bank of India, where he spent 30 years in various roles including Inspecting Officer, Chief Forex Dealer, Chief Investment Dealer and Head of Internal Debt Management Department. He also served as Wholetime Member of SEBI.

Krishnakumar Natarajan
Advisor (Co-Founder & Managing Partner, Mela Ventures; former Executive Chairman, Mindtree)
Krishnakumar Natarajan is an Advisor to TVS Capital Funds. He is Co-Founder and Managing Partner of Mela Ventures and was earlier Executive Chairman of Mindtree, a leading IT services provider. Ranked amongst India's most valuable CEOs by Business World & Forbes in 2016 and Bloomberg UTV CEO of the Year 2010. Prior to Mindtree, he held key positions at Wipro. Education: B.E. (Mechanical Engineering), College of Engineering Chennai; MBA, Xavier Institute Jamshedpur.

R. K. Saraf
Advisor (Former DMD & CFO, SBI)
R. K. Saraf is an Advisor to TVS Capital Funds. He was Deputy Managing Director & CFO of State Bank of India, with 39 years of experience across banking, banking technology and Bancassurance. Education: Master's Degree, IIT Kanpur; Diploma in Financial Management, Mumbai University; CAIIB; Fellow, Insurance Institute of India.

Suresh Mahalingam
Advisor (Former MD & CEO, Tata AIA)
Suresh Mahalingam is an Advisor to TVS Capital Funds. He was MD & CEO of TATA AIA, Group Management Council Member at WGC, General Manager at HDFC Life and Business Head at ITC. He has 30+ years of corporate India experience. Currently Independent Director for Aviva India and 5F World, and leads digital transformation practice at Kalzoom Advisors. Holds Post Graduate Program in Executive Coaching from Coaching Foundation India (CFI).

K. Ramkumar
Advisor (Former ED, ICICI Bank)
K. Ramkumar is an Advisor to TVS Capital Funds. He is the Founder of Leadership Centre and retired as Executive Director on the Board of ICICI Bank after 15 years. He envisioned and established the ICICI Academy for Skills (23 locations, training 35,000 youth in 15 skills). He previously worked at Hindustan Aeronautics Ltd, Hindustan Unilever and ICI.

Mrutyunjay Mahapatra
Advisor (Former MD & CEO, Syndicate Bank)
Mrutyunjay Mahapatra is an Advisor to TVS Capital Funds. He was former MD & CEO of Syndicate Bank and CDO of SBI, with senior banking experience in large-scale digital transformation. He is a Member of the Governing Council of RBI Innovation Hub, Board of Supervision of NABARD and Insurance Advisory Council of India.

Kal Raman
Advisor (President, Bolt)
Kal Raman is an Advisor to TVS Capital Funds. He is President at Bolt, leading Engineering, Product and Customer Experience teams. An ecommerce industry veteran, he has served in executive roles at Amazon (S-team), Samsung, Groupon and Walmart, and was previously CEO of GlobalScholar and Xome. Board member/advisor at BigCommerce, Feedvisor and Solana Labs. Education: B.E. (Electrical & Electronics), Anna University Chennai. Based in Seattle, USA.

T. N. Hari
Advisor (Executive Chairman, Steer Group; Co-Founder, Artha School of Entrepreneurship)
T. N. Hari is an Advisor to TVS Capital Funds. He is Executive Chairman of Steer Group of companies and Co-Founder of Artha School of Entrepreneurship. A startup evangelist and thought leader.

Prof. H. Krishnamurthy
Advisor (Formerly Chief Research Scientist, Indian Institute of Science)
Prof. H. Krishnamurthy is an Advisor to TVS Capital Funds. He was formerly Chief Research Scientist at the Indian Institute of Science.
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