India's 3one4 names new partner

The appointments come as 3one4 is said to be nearing a final close on its third flagship early-stage fund. The vehicle has a target of $100 million and reached a first close of $40 million in September 2020.

Ramdasan (pictured) has been with the firm since its founding in 2016 by brothers Pranav and Siddarth Pai, latterly serving as a principal. He previously worked as a software architect for local education technology start-up Edcast.

Ramdasan has played a key role in the sourcing and management of more than 30 of 3one4’s 70-plus portfolio companies. These include social networking platform Koo, tech-enabled distributor Ripplr, personal finance business WeRize, and hyper-local social content platform Lokal. Among his new duties will be supporting the firm’s expansion from early to later-stage strategies.

3one4 has also promoted Nruthya Madappa, who was recruited last year from The Foundry as head of growth and capital development, to principal. Her team works with portfolio companies on financial and strategic objectives such as capital raising, revenue acceleration, M&A, and exits.

In addition, three executives who head functional groups within the firm have been elevated to principal level. They are Richard Pinto from portfolio management and finance, Yash Baid of the research team, and Ashwini Thulsaram from the governance and business integrity unit.

“The early-stage ecosystem has radically transformed in India and the role of venture capital has moved beyond mere providers of capital to true partners in new value creation. Having a team that supports the needs of founders and operators today is essential to achieve and maintain top decile performance,” Siddarth Pai said in a statement.

3one4 has approximately INR18 billion ($243 million) in assets under management. The firm closed its debut fund on INR1 billion in 2016 and then raised INR2.5 billion for a successor vehicle two years later. Two more closes came in 2019: INR4 billion for a top-up vehicle – which has since risen to INR8 billion – and INR450 million for a seed fund.

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