Sudip Bandyopadhyay Quits Spice To Start His Own Venture

Sudip Bandyopadhyay has quit Spice Finance to set up his own equity broking and PMS venture - Convexity Solutions.

The firm will be backed by CX Partners. CX Partners has committed an intial capital of about Rs 210 Cr. It will also have two members on the board of the firm.

The company is opening an office in Mumbai and will soon expand to Delhi, Kolkata, Chennai and Bangalore. It will focus on institutional clients and derivative investments for retail clients.

Sudip Bandhyopadhyay had joined Spice Finance five months ago after it picked up a majority stake in Wall Street Finance from ADAG Group. He will continue to be on the board of Spice Money.

Prior to joining Spice, he headed Reliance Money for more than four years. He handled equities and commodity broking, financial product distribution, commodity exchanges, gold coin retailing, money changing and money transfer business for the ADA group company.

Sudip is a CA and a cost accountant with over 22 years of experience in financial services domain. He has also worked with ITC, ICI and HLL.

CX Partners is headed by Ajay Relan, who was earlier the MD of Citigroup Venture Capital. Key investors in CX Partners include Morgan Creek Capital, Goldman Sachs, JP Morgan, Asia Alternatives and Adams Street.

Earlier in the month it announced an investment of $8 Mn in Monnet Ispat & Energy Ltd.

Previous Article

Quatrro BPO Raises $13 Mn From Walden, Olympus

Next Article

Sheth Creators Raises R80Cr From IIFL PE