Asia-focused private equity firm TR Capital is planning to invest $1 billion in India over the next five years. This shows strong confidence in India’s growing startup and private equity market. The firm aims to invest around $200 million every year, mainly through secondary deals, where it buys shares from existing investors.
Founded in 2007, TR Capital has managed about $1.5 billion and completed over 50 deals across Asia-Pacific. It works with large investors like pension funds, sovereign funds, and family offices. Since it entered India in 2008, the firm has been actively tracking the market. With IPOs taking longer and fewer quick exits, there is a rising need for liquidity, which TR Capital is looking to provide.
Umang Agarwal to Lead India Operations
To lead this big plan, TR Capital has appointed Umang Agarwal as Managing Director and Co-Head for India. He was earlier with Eight Roads Ventures and has experience in sectors like fintech, software, and consumer businesses. He has also worked at BCG India.
The company has also hired Kushal Agarwal and Sagar Sheth as part of its senior team. To expand its presence, TR Capital has opened a new office in Bengaluru, in addition to its offices in Mumbai and Delhi NCR.
Focus on High-Growth Sectors
TR Capital will focus on sectors like technology, financial services, healthcare, and consumer brands. It is also looking at new opportunities in AI and high-tech manufacturing. In India, it has already invested in companies like Flipkart, Lenskart, BigBasket, and Whatfix.
The firm plans to buy strong companies at good prices, especially now when valuations have corrected. It is currently studying several deals, including portfolio deals that group multiple companies together.
With India’s secondary market growing fast and more investors entering this space, competition is increasing. Still, TR Capital is aiming to take advantage of this trend and expand its role in India’s investment ecosystem.