Singularity Strengthens Leadership Team

• Drives Strategic Growth Through Leadership Appointments • Appoints Mr. Avnish Anand as Partner for Consumer and Mr. Ajay Kumar as Senior Advisor Mumbai 23th January 2025: Singularity, a leading provider of capital and differentiated market access for growth assets, has bolstered its leadership team with the appointments of Mr. Avnish Anand as Partner for leading Investments in Consumer and Mr. Ajay Kumar as Senior Advisor. These appointments reflect Singularity’s commitment to fostering growth and innovation across key sectors, further solidifying its position as a trusted partner for growth-stage founders.

As we strengthen our capabilities, it is very clear that building expertise in our focus sectors is crucial for success. Avnish has an excellent understanding of the Indian consumer and a proven ability to build a consumer-centric brand like CaratLane. We have an ambitious vision for our consumer portfolio and Avnish is the perfect person to lead it. Likewise, Ajay’s deep understanding of policy making, global industrial landscapes, and his ability to drive critical partnerships will guide our investments in transformative sectors such as semiconductors, defence, and electronics. Together, their expertise will accelerate our journey towards creating impactful, scalable businesses,” said Yash Kela, Founder of Singularity At Singularity, Mr. Anand will focus on building and scaling the consumer portfolio, leveraging his deep understanding of consumer businesses in India. As Co-founder and former MD & CEO of CaratLane, Mr. Anand played a pivotal role in transforming the company into one of India’s most capital-efficient, fastest growing, and beloved consumer brands. His hands-on expertise in building and scaling businesses will also be a huge advantage for Singularity’s growth investments as he can add real value in helping the portfolio companies deal with the challenges of scaling their businesses.

Mr. Ajay Kumar brings a wealth of experience in policy, industrial innovation, and technology partnerships. Having served as India’s longest-tenured Defence Secretary, Mr. Kumar played a transformative role in advancing Digital India initiatives and creating the iDEX program to foster a defence startup ecosystem. His guidance will be instrumental in Singularity’s focus on key high-potential sectors such as semiconductors, defence, electronics, and critical energy minerals—areas that are vital for India’s journey to becoming a $100 billion revenue economy within the next decade.

Mr. Kumar has also held key roles in the Department of Defence Production, and Additional Secretary, Ministry of Electronics and Information Technology, where he contributed to initiatives such as Aadhaar, Unified Payments Interface, and Government e-Marketplace.

Currently, Mr. Kumar serves as a Distinguished Visiting Professor at IIT Kanpur and a non-resident Senior Fellow at Carnegie India. He is the Founder Chairman of Mounttech Growth Fund, an AIF Category-II Venture Fund, and actively mentor startups in defence and aerospace sectors. Additionally, he contributes as an Independent Director on various boards, a Board of Advisors member at US-India Strategic Policy Forum (USISPF) and writes a monthly editorial in Business Standard titled “Off the Grid,” covering defence, strategy, technology, and policy.

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Source: PTI