Profile of Founding Partners

One of the most experienced partnerships in the Indian Mid-Market space

Devinjit Singh

Devinjit Singh

Managing Partner
  • Member of the Founding Team and the Managing Director of Carlyle Asia Partners in India for over a decade (2008-18)
    • > USD 1.0 billion invested. Marquee investments include:
    • PNB Housing Finance & SBI Cards (among the most successful PE transactions in India)
  • Previously Head of M&A at Citigroup India
    • Several marquee transactions across India’s leading corporates over nearly two decades
  • Hindu College, Delhi University and The Fuqua School of Business, Duke University, USA
Perumal Srinivasan

Perumal Srinivasan

Managing Partner
  • Managing Director & Head of Citigroup - India Private Equity Team (CVCI)
    • Part of Leadership Team raised two global EM funds: USD 1.5 billion in 2005, USD 4.3 billion in 2007
  • One of 3 founders that set up HSBC India Private Equity & raised a USD 60 million fund in 1995
  • > USD 700 million invested. Key investments include:
    • At CVCI- Axis Bank, Yes Bank , Suzlon, Lupin, GMR and Sharekhan
    • At HSBC India PE - Sharekhan, Kurlon, Dishnet, and Millennium Software
    • At ICICI Ventures – Geometric Software, Microland
  • CEG, Anna University, Chennai and IIM, Bangalore

In Memoriam

Ajay Relan

Ajay Relan

Ajay Relan was one of the Founder-Partners of Xponentia. He was an investor extraordinaire with an intuitive investing acumen that is part of industry folklore. He was a charmer - entrepreneurs and LPs were enthralled by his wit & humour even as he held colleagues & peers in awe.

He was generous with his time & counsel, and there are many in the industry who owe their successful careers to his mentoring. He was a philanthropist who supported many causes, especially education. Above all, he was a large-hearted person who treasured his family, friends, colleagues and business partners.

Xponentia is humbled to carry forward Ajay Relan's legacy!