Shenzhen-based private equity firm Cowin Capital’s partner Ma Weiguo has quit to start his own private equity firm while Indian e-commerce platform Flipkart’s marketplace head Anil Goteti will lead newly acquired eBay India.
Shenzhen-based Cowin Capital’s partner forms own PE firm
Shenzhen-based private equity firm Cowin Capital’s partner Ma Weiguo has left to start his own private equity firm Shanghai Yichen Investment Management Co.
Ma – who plans to set up a buyout fund, a growth fund and an industry fund – aims to raise $740 million till 2020 and the firm will focus on investments in new material, new energy, energy conservation and environment protection, telecom, media and technology and healthcare, according to a report from China Money Network on Tuesday.
The debut fund will focus on pre-IPO investments and has secured capital commitments from Sequoia Capital China’s partner Wang Cen, Aplus Capital’s chairman Sheng Xitai and Hongdao Investment’s founder Wei Baochuan.
Ma, who has worked in Cowin since 2012, helped over 100 companies launch IPOs, refinancing and acquisition deals.
Flipkart’s Anil Gotedi to lead e-Bay India
According to a report in Economic Times, Goteti who was till now heading the marketplace and retail product and operations team at Flipkart, will also steer the cross-border trade business while he leads eBay and will have EBay India’s country manager Vidmay Naini reporting to him.
Goteti joined Flipkart in 2012 and has worked with Mckinsey & Company management consultant and a senior systems engineer at Qualcomm in the past.
Earlier this year, Flipkart concluded a merger with eBay India. Though, the company had said even as the two firms explore opportunities in cross-border trade, eBay will be an independent entity. Previously, eBay had injected half a billion dollars in Flipkart and later sold its India business to Flipkart as part of a $1.4 billion funding round in April.