Sistema Asia Capital appoints CEO

The role was created for Tay, who will also function as a board member of the Singapore-based VC firm and a member of its investment committee. 

Tay previously held senior roles in British Telecom, IBM, Keppel Communications, and Hewlett Packard. He has experience in artificial intelligence, data centers and analytics, cloud services, internet-of-things, smart cities, 5G, satellite communication, and next-generation mobility networks.

Tay joins a leadership structure including executive directors Leonid Musatov and Tejash Prajapati, who provide expertise in consumer, telecoms, and real assets. Sergey Savchenko, a telecoms industry veteran who previously worked for Bain & Company in Russia, remains CEO of Sistema Asia, a separate entity from Sistema Asia Capital.

Sistema Asia Capital was set up in 2015 with a $120 million fund seeded by its parent company. However, Sistema has been an active private investor in Asia since 2008, when it became the first Russian conglomerate to invest in India’s telecoms sector. Focus areas include e-commerce, transportation, financial technology, education technology, and enterprise IT.

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