India Value Fund recruits former Network18 chief
India Value Fund Advisors (IVFA) has appointed Haresh Chawla as a partner. Chawla, who stepped down as CEO of media company Network18 earlier this year, will take responsibility for investments in the media and entertainment space. He will also work with existing portfolio companies.
"Haresh brings with him unique experience, having built several world-class brands in the media and entertainment space," Vishal Nevatia, managing partner at IVFA, said. "He blends professional management with entrepreneurial drive and the combination will be invaluable in helping IVFA scale up and further build our portfolio of businesses."
Under Chawla's tenure, Network18 grew from a single business news channel and website with revenues of INR150 million ($2.9 million) into a diversified media group with revenues in excess of INR25 billion.
IVFA was established in 1999 and has around $1.3 billion under management across four funds. Its most recent vehicle closed in July 2009 at $725 million. It recently exited DM Healthcare as part of a transaction that saw Olympus Capital Asia Investments take a minority stake in the company for INR5 billion.
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