TR Capital bets $1 billion on India, names Umang Agarwal MD

Bengaluru: Asia-focused secondary private equity firm TR Capital will deploy $1 billion in India over the next five years and has appointed Umang Agarwal as managing director to lead its India strategy, managing partner Frederic Azemard told ET.

The PE will invest across consumer, financial services and healthcare, while selectively evaluating opportunities at the intersection of software and artificial intelligence (AI), Azemard said.

Agarwal, former principal at Eight Roads Ventures, will expand its local presence with a new office in Bengaluru and senior hires to tap the rising deal flow.


The plan to deploy roughly $200 million per year "reflects how we see the opportunity evolving in India," Azemard said, adding that the firm is accelerating its existing strategy rather than changing course.