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indiantelevision.com Team
MUMBAI: Former Network18 Group CEO Haresh Chawla will be joining India Value Fund Advisors (IVFA), as India partner.
Chawla will be joining the private equity firm on 1 June. He will be responsible for building and scaling up businesses owned by IVFA across sectors, as well as leading media and entertainment investments at the private equity firm.
IVFA managing partner Vishal Nevatia said, "Haresh brings with him unique experience, having built several world-class brands in the media and entertainment space. 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."
IVFA controls MBPL, the company which operates FM radio station under the Radio City brand, and Bangalore-based MSO Atria Convergence Technologies. The fund has exited from its two earlier media investments, Shringar Films and DQ Entertainment.
IVFA?s other investments include Meru Cabs, RDC Concrete, InLogistics, Mahindra Hinoday,DM Healthcare and RoboSilicon, amongst others.
On his new role Chawla added, "IVFA is a uniquely positioned firm that not only infuses capital but also the mindset and strategic management thinking, that is required to scale up mid-sized businesses into large professionally-run enterprises. This operating model was particularly appealing to me as a chance to leverage my experience in building up businesses and helping management teams perform to their true potential."
Under Chawla?s leadership, Network18 grew from a single business news channel (CNBC-TV18) and solitary portal (Moneycontrol.com), with revenues of Rs 150 million in 1999, to a diversified media group with revenues in excess of Rs 25 billion in 2011. His previous assignments have all been with start-ups including the HCL Group, where he headed business development for HCL Comnet; ABCL, where he set up the Film Distribution Business, and at the Times of India Group where he launched their music label - Times Music.
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