Thomas Weisel Partners launch India subsidiary

US-based investment banking firm, Thomas Weisel Partners Group, today launched its wholly-owned subsidiary, Thomas Weisel International Private Ltd (TWIP) in India.

Through this subsidiary, which has an office in Mumbai, it plans to focus on domestic growth sectors like technology, healthcare and consumer-driven sectors.

TWIP's managing director, KV Dhillon said the company would offer merchant banking services to small and mid-sized corporates in India.

The group is planning to build an equity research team in India to offer research and investment advice on growth equities to US-based institutional investors. Director and head of research, Praveen Chakravarty said the group was currently looking at increasing the strength of its ten-member research team over a couple of months.

Thomas Weisel International recently hired Sreenivasulu Vudayagiri to head its Indian asset management businesses and lead the group's India-focussed private equity and venture capital fund-of-funds.

Thomas Weisel Partners manages close to $800 million in US-based venture funds. This includes a $418.5 million fund-of-funds, a $252.5 million technology fund and a $121.8 million healthcare fund.