Ishan Raina, Chairman and CEO of Euro RSCG, has taken up additional responsibility at global private equity and venture capital firm 3i. Raina will be ‘entrepreneur in residence’ and begin ventures in new media and the out-of-home space, which will be funded by 3i. He will continue with his role at Euro RSCG.
Raina holds 40 per cent stake in Euro RSCG India, which he is likely to sell in phases to Havas, the Paris-based parent of Euro RSCG.
Havas is the majority 60 per cent owner of Euro RSCG. Sources said that 3i would be looking at funding close to $20-40 million in Raina’s new ventures. Headquartered in Paris, Havas has three principal operating divisions – Euro RSCG Worldwide, which is headquartered in New York; Arnold Worldwide Partners in Boston; and Media Planning Group in Barcelona.
Raina had set up Euro RSCG’s India operations in November 1995 as founder and CEO. In 1997, he took up the responsibility for the Middle East operations. He has been serving as CEO of Euro RSCG India in the Middle East since June 1998. He was earlier the Executive Director of Contract. Raina has been in the advertising industry for 13 years.