Warburg pincus india MD quits to launch own tech fund

Warburg Pincus India managing director Nitin Nayar has resigned from the private equity firm to launch his own investment fund that will primarily focus on placing technologyrelated bets. Nayar’s new fund is expected to have a corpus of $150-200 million (₹950-1,270 crore), and is likely to make mid- to growth-stage investments across the country’s broader technology space, particularly in the enterprise technology segment, three people with knowledge of the matter said.The Harvard College and Harvard Business School alumnus, who led New York-headquartered Warburg Pincus’ technology and startup investments in India, had joined the marquee private equity investor in 2003, and had been with its Mumbai office since 2004.
Nayar is believed to be currently serving out his notice period. ETcouldn’t ascertain his last date with the investment firm. It is also yet unclear if the upcoming fund has begun receiving capital commitments from investors.
It is unclear also who would replace Nayar at Warburg Pincus, which manages assets of about $44 billion globally.
Nayar didn’t respond until press time Wednesday to an email sent to his Warburg email ID seeking comment.
Nayar led Warburg’s investments in cloud-based customer engagement and retail solutions firm Capillary Technologies and MXC Solutions India, which owns and operates online and mobilebased auto classifieds platform CarTrade, among others. Nayar had played a leading role in structuring Warburg Pincus’ investment in online classifieds company Quikr in 2012.