Sequoia departures put question mark over fund’s future
Four of Sequoia Capital India’s founding partners have resigned from the VC firm to set up a new fund, which will focus on domestic PIPE transactions.
K.P. Balaraj, Sumir Chadha (pictured), S.K. Jain and Sandeep Singhal are to launch WestBridge Public Fund later this year, according to local media. WestBridge Capital Partners had been the original fund of the four before it merged into Sequoia five years ago. It was originally launched in 2000 and was co-founded by Balaraj and Chadha.
According to a Reuters report citing a statement from Sequoia, the departing executives will continue to represent Sequoia on its investees' boards. V.T. Bharadwaj, Mohit Bhatnagar, Abhay Pandey, G.V. Ravishankar and Shailendra Singh will go forward to manage Sequoia India's VC business, the report continued.
Sequoia Capital India was awarded the title Indian Private Equity Firm of the Year at the AVCJ India Private Equity & Venture Capital Awards in December, and was honored for its role as part of the investment team behind last year's JustDial transaction, which was named Indian Venture Capital Deal of the Year.
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