British International Investment hires Satish Chavva to head PE for South Asia
- ByStartupStory | April 22, 2022
Satish Chavva of the Oman India Joint Investment Fund has been named to lead the British International Investment or BII (previously CDCdirect )’s private equity branch for south Asia. Chavva has been the director of private equity investments at Oman India Joint Investment Fund since July 2016, a mid-market private equity fund focused on India.
Over the last six months, the British investment firm has been aggressively changing its senior management. BII hired four new managing directors in February this year, including India’s Abhinav Sinha as managing director and head of technology and telecom. Diana Layfield, a former Google executive, was named its new chairman in November, making her the first woman to lead the BII.
Chavva, an IIT Bombay graduate, formerly worked at Citi as an investment banker in the United Kingdom for over 11 years and as a director in Mumbai. He also had two shorter spells at IBM and Trilogy Inc, where he got his start in the industry. Chavva earned an MBA in Management from INSEAD and a Master’s in Computer Science and Mathematics from the University of Texas in Austin.
Earlier this month, the British International Development Agency (BII) became an anchor investor in Aavishkaar Capital, the impact investing arm of India’s Aavishkaar Group, which raised more than Rs 1,000 crore for its eighth impact fund overall and sixth fund dedicated to influencing investing in India. In India, British International Investment owns a portfolio worth more than $2 billion. It has invested about £7 billion globally in the last five years (around Rs 69,620 crore).
BII announced last year that it would invest up to $1 billion in climate finance in India over the next five years. CDC has invested over $1 billion in climate finance across Africa and South Asia over the last four years. The investment organization, which was founded in 1948 as CDC and relaunched as BII in April 2022, has included Southeast Asia and the larger Indo-Pacific region as new key areas for commercial expansion.
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