Former Actis Chief joins Hemas Holdings board

Hemas Holdings Plc has announced the appointment of J. M. Trivedi as an Independent Non-Executive Director to its board. 

Trivedi has over 35 years of experience in the Indian financial services industry and over 25 years with the Indian venture capital and private equity industry. He joined CDC, a UK-based development finance institution in 1997 to set up its Mumbai office. He was one of the founding partners when Actis LLP was spun out of CDC in 2004.

He took over the leadership of Actis South Asia in 2007. He retired from Actis in 2017. By 2017 Actis had raised over $ 12 billion since it was formed in 2004. As a member of the global investment committee of Actis, Trivedi had an overview of investment activity of Actis across its key markets such as China, South Asia, Africa and Latin America and its key sectors such as the Consumer, Healthcare, Financial Services and Industrial segments.

Trivedi has been involved in numerous investments of Actis in India, most notably India Infoline, Glenmark Pharmaceuticals, UTI Bank (now Axis Bank), Sterling Hospitals, Paras Pharmaceuticals and Avtec, many of which have grown into large businesses with a leadership position in their respective sectors. 

Prior to joining CDC, Trivedi was Senior Vice President of GVEL, one of the first venture capital funds in India. He was part of the founding team of GVFL when it was set up in 1990 and was involved with its first three funds which focused on technology-based start-ups and early stage companies.

Prior to joining GVFL, he worked at GIIC, a development bank, and Atul Products, a dyes and intermediates conglomerate. 

Trivedi graduated as a chemical engineer from the Indian Institute of Technology, Bombay and holds a Diploma in Finance from the Institute of Chartered Financial Analysts of India. He currently serves on the board of Ostro Energy Ltd., which is an Actis-owned company and is building a clean energy platform with wind and solar assets with a capacity of over 1,000 MW in India.

With the latest appointment, the Board of Directors of Hemas Holdings Plc comprises Chairman Hussain Esufally, CEO Steven Enderby, A.N. Esufally, M.A.H. Esufally, I.A.H. Esufally, A.S. Amaratunga, R. Gopalkrishnan, D.S. Weerakkody, S.A.B. Ekanayake, W.M. De F. Arsakularatne and J.M. Trivedi.