Yes Bank to open equity fund for food, agri business

Yes Bank, the youngest private sector bank, would launch a private equity fund for the food and agri businesses. Sonal Shah has been named senior director "� agri business funds management.

She will be responsible for setting up and managing the food and agri business (private equity) fund. The proposed fund would invest in companies operating in the food and agriculture related sectors with an aim to capitalise on their strong growth potential.

Shah, who graduated from the Indian Institute of Management, Kolkata, will be involved in all activities of the fund, including raising funds and identifying and investing in suitable companies.

Prior to joining Yes Bank, she was with DSP Merrill Lynch India as senior vice-president and head of equities research - mid caps.

Before joining DSP Merrill Lynch a few months ago, Shah was with Rabo India Finance as director and head of strategic advisory, where she initiated and built the highly successful food and agri business.

Her career spans across 12 years, having worked in strategic and advisory positions in organisations such as A F Ferguson, Swiss Bank Corporation and Union Bank of Switzerland.

Yes Bank has been promoted by career bankers, Rana Kapoor and Ashok Kapur and attempts to adopt a knowledge-driven approach to banking.

It has formed a specialised development and knowledge banking division focusing on sunrise sectors like agri business.