MUMBAI, India, June 12, 2024 -- SBICAP Ventures Limited (SVL) is pleased to announce the appointment of Prem Prabhakar as the new Managing Director and Chief Executive Officer, effective 4th June 2024. In his new role, Mr. Prabhakar will be responsible for overseeing the strategic direction, operational efficiency and overall growth of the company. He will lead the executive team, manage investor relations, and drive initiatives that align with SVL's commitment to creating long-term value for its investors and supporting the communities in which it operates.
Mr. Prabhakar brings over 24 years of extensive experience in the banking sector. Prior to this appointment, he served as General Manager at the State Bank of India (SBI). His notable assignments include serving as Deputy General Manager (B&O) managing retail business and operations, Chief Dealer (Forex) at SBI Global Markets, Mumbai, and Chief Dealer at SBI New York.
Additionally, Mr. Prabhakar held the position of Director on the board of the Regional Rural Bank, Jharkhand Rajya Gramin Bank. His expertise lies in treasury operations, with over 12 years of experience covering forex, money markets, derivatives, resource management, ALM and risk management.
On his new role, Mr. Prabhakar stated, "Joining SBICAP Ventures Limited is an exciting opportunity for me. SVL's commitment to creating long-term value for its investors and supporting communities resonates deeply with my professional values. I look forward to leveraging my experience, to drive growth and innovation at SVL, and to contribute to its mission of excellence in alternative asset management."
In addition to this significant appointment, SVL also announced the launch of its latest fund, the TDC Fund, in April this year.
About SBICAP Ventures
SBICAP Ventures Limited (SVL) is a leading alternative asset management company with assets under management of around INR 32,500 Cr (US$ 3.9 bn). As a part of the SBI Group, our leadership, experience, knowledge, and talent has attracted some of the leading Indian and Global investors, therefore, making us unique in our business. Our constant endeavour is to excel in our efforts thereby creating long-term value for our investors and supporting the communities in which we operate. SVL is currently the Investment Manager for (i) Neev Fund (ii) Neev II (SVL-SME Fund) and (iii) SWAMIH Fund and Fund of Funds (SRI Fund, UKIDCF and TDC Fund).
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