TR Capital is strengthening its India strategy with a commitment to invest $1 billion over the next five years through secondary transactions, as it looks to tap into growing demand for liquidity in the country’s startup ecosystem. As part of this expansion, the firm has appointed Umang Agarwal as Managing Director and Co-Head for India.
Agarwal previously worked at Eight Roads Ventures, where he focused on investments across enterprise software, fintech, and consumer sectors. TR Capital has also brought on Kushal Agarwal and Sagar Sheth in senior roles to strengthen its local team.
The firm has opened a new office in Bengaluru, adding to its existing presence in Mumbai and Delhi NCR. The expansion is aimed at increasing proximity to late stage startups and investors, particularly in sectors such as technology, next generation consumer, and healthcare.
TR Capital focuses on secondary investments, providing liquidity to early investors, founders, and employees. In India, it has backed companies such as Flipkart, Lenskart, MoEngage, Shadowfax, and Whatfix, among others.
Umang Agarwal said, “TR Capital will increase its role in contributing to India’s economy by working closely with founders, venture capitalists, PE funds and other stakeholders who are managing complex liquidity needs, through our solutions-oriented approach.”
TR Capital, Managing Partner Frederic Azemard, said. “India has been a core market for us over the last 17 years. We are pleased that we have built a strong presence in the secondary PE space, and are excited to see the opportunity to invest $1 Bn in secondaries over the next five years in India.”
Arnaud Azemard said, “With the Indian PE market maturing, we continue to raise our game and the calibre of our investment team. The new office in Bengaluru will enable us to align our presence with growing opportunities and solidify our leadership position in the secondaries market in India.”
