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Dubai-based Evolvence Capital, an alternative asset manager focused on the Middle East and South Asia, has appointed a new team of investment and advisory professionals for its India operations, underlining the firm's commitment to the market and its importance within Evolvence's investment strategy.

The team will be led by Ashok Ramaswami, who brings extensive global investment and financial management experience and will be responsible for the development of Evolvence's investment strategy across India.

He was previously with San Francisco-based venture capital firm Blumberg Capital, where he led investments and managed financial and operational initiatives across many of the company's portfolio companies.

Ramaswami was earlier a lead manager of investment in emerging businesses at Cisco Systems, where he was involved in the formation of five new business units. In the investment banking division of Deutsche Bank Securities, he had overall responsibility for M&A, corporate finance and other capital market activities across various sectors.

'India is an important market for us,' says Evolvence chief executive Khaled Al Muhairy (photo). 'To be successful in any market, it is vital to have an on the ground presence. We are delighted to have an executive of Ashok's calibre and track record to build on the business momentum and our success in India. He brings a wealth of experience to our rapidly growing emerging markets capabilities and will add tremendous value to our operations.'

Adds Ramaswami: 'Evolvence Capital has an excellent track record in the Middle East and South Asia with an established regional network. India presents excellent opportunities and I look forward to leading Evolvence's development in the country.'

Founded in 2000, Evolvence Capital manages assets of around USD1bn in three core asset classes of private equity, real estate and alternative capital markets.

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