Four founding partners of venture firm Sequoia Capital’s India unit have quit to start a new company for public market investments in India, Reuters reported. The partners – Sumir Chadha, K.P. Balaraj, S.K. Jain and Sandeep Singhal – will continue to represent Sequoia on the boards of portfolio companies, Reuters said. Sequoia named a team of five new managing directors who will run the India unit.
(Reuters) – Four founding partners at the India unit of U.S. venture capital firm Sequoia Capital have resigned to set up a company for public market investments in India, the company said on Tuesday.
Sumir Chadha, K.P. Balaraj, S.K. Jain and Sandeep Singhal will, however, continue to represent Sequoia Capital on the boards of private and public companies in which the company has invested, it said in a statement.
The company named a team of five managing directors, Abhay Pandey, G.V. Ravishankar, Mohit Bhatnagar, Shailendra Singh and V.T. Bharadwaj, who will run the India business for the venture capital firm.
Sequoia Capital manages funds worth about $1.4 billion in India, and has invested in more than 60 Indian firms including mobile telephone operator Idea Cellular and microfinance firm SKS Microfinance . (Reporting by Sumeet Chatterjee; Editing by Ranjit Gangadharan)