Ved Prakash Arya, who had set up Milestone Capital four years ago after successfully sketching a career in the retail sector, passed away after he met with a freak accident on Thursday morning.
Toasted as one of the youngest and brightest names in the retail space who switched over full time to the fund management business in 2007, the 41-year-old is survived by wife and two children.
Incidentally, this is the second death in the private equity industry in the last 10 days. On the morning of August 15, Mayukh Mitter, senior vice-president at Government of Singapore Investment Corp or GIC, the sovereign wealth fund of Singapore, died of a heart attack. Mitter, based out of Singapore, was with the investment firm for 11 years.
His responsibilities included making PE investments with a focus on Asia, particularly Japan, India, Indonesia and South Korea.
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