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Anicut Capital elevates A Jayaseelan as Chief Credit Officer

Indian investment firm Anicut Capital has promoted A Jayaseelan as the new Partner and Chief Credit Officer, who will lead the credit underwriting and work towards the growth of the credit vertical by constructing and managing the portfolio.

Jayaseelan, a core member of the founding team, has been an integral part of Anicut’s credit funds since its inception. In his 18 years of experience in the banking and financial services industry, he has worked with ICICI Bank and other financial institutions.

“The new role of Jayaseelan aligns in with our strategic plan to strengthen our offerings and business propositions’. He will bring his keen insight into fast-growing sectors and will further Anicut’s existing successful investment roadmap,” Ashvin Chadha, Managing Partner, Anicut Capital, said in a media release.

Started in 2015 to provide debt funding to small and medium enterprises, Anicut launched Grand Anicut Fund-1 (GAF-1) in 2016. Anicut now handles two debt funds—Grand Anicut Fund I and Grand Anicut Fund II and an angel fund and has assets under management of about Rs 1,600 crore.

Allen Career Institute opens 7 centres in Delhi-NCR region

Coaching institute ALLEN Career Institute has announced its entry into the Delhi-NCR region with seven new centres in Kalu Sarai, Dwaraka, Lajpat Nagar, Janakpuri, Faridabad, Noida, and Gurugram.

The centres will open by September 30, 2022, and focus on preparing students for JEE (Main and Advanced), NEET—UG, Olympiads, and NTSE. The company will also be providing pre-nurture career foundation courses for students from Class 8 to 10, the institute said.

“With our new centres in this region, we will put in all our efforts to provide the best-in-class faculty, infrastructure and study material to help students excel in this region as well,” Dr Brajesh Maheshwari, Chairman, Allen Career Institute, said in a media release.

Students will get admission to these new campuses on the basis of Tallentex, a scholarship exam which would be conducted offline on October 9, 2022, across various centres in the Delhi-NCR region.

Allen started its journey in the organised coaching service sector with Allen Career Institutes 34 years ago in Kota, Rajasthan. It currently operates 41 centres across India, with more than 250,000 students enrolled across all centres in the current session. It recently raised $600 million from Bodhi Tree and also launched its digital arm Allen Digital with its foray into the edtech space.

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Kovai.co appoints Andrew Cloke as Chief Operating Officer

Enterprise SaaS company Kovai.co has appointed Andrew Cloke as the Chief Operating Officer. He will ensure that the firm has the appropriate systems, processes, policies, and procedures in place.

Cloke, who has a strong background in working across cross-functional teams throughout his 34-year-long career, will also help in preparing and communicating budgets for various departments and helping them manage costs.

“His focus and expert knowledge in the industry has been exemplary. As we were looking to strengthen our leadership team at Kovai.co, Andrew was the logical choice since he would help us maintain momentum and growth and build appropriate policies to keep them in place. I am pleased to welcome him into this new role,” Saravana Kumar, Founder and CEO of Kovai.co, said in a media release.

Kovai.co is based out of Coimbatore, India and London, UK. Founded in 2011, the company has crossed a revenue of $10 million ARR and remains completely bootstrapped to date.