Prakash Karnik is exec. vice president at IDFC Private Equity
Mumbai: Prakash Karnik has joined as executive vice-president, with the investment team of IDFC Private Equity, the private equity arm of Infrastructure Development Finance Company.

Karnik will be responsible for investment activities of the two funds managed by the company - India Development Fund and IDFC Private Equity Fund II, said a press release from the company.

Prior to IDFC, Karnik was general manager in charge of primary markets at UTI. He started the primary markets division of UTI in 1985 and was also involved in setting up India's first venture capital fund with ICICI in 1987.

He was also director of Indian operations of Jardine Fleming Electra/Electra Partners Asia, one of the foreign venture capital funds in the country. Currently he is a member of the Listing Advisory Committee of the NSE.
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