Somak Ghosh Quits Motilal Oswal PE; Launches Impact Fund
by Paritosh Gajjar
Somak Ghosh is setting up Contrarian Capital India Partners and has quit Motilal Oswal PE, startupcentral states.
The firm's debut fund, dubbed Contrarian Opportunities Fund I, is targeting a corpus of $50 Mn and will seek to make early stage impact investments.
The fund will make investment in Series A stage and invest between $500,000 and $5 Mn in each company over multiple rounds. The investment will be made in education, healthcare and agri-businesses sector.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.