Gulpreet Kohli to leave India's ChrysCapital

Kohli, who joined ChrysCapital in 2000, sits on the investment committee and runs consumer sector coverage in addition to leading fundraising efforts. His departure – first reported by VCCircle – triggers a key man clause on Fund VI, although it is unclear whether LPs will enforce it. The $510 million vehicle, raised in 2012, is already 65% deployed and likely to cross the 75% threshold by the end of the year.

One LP told AVCJ that he saw it as "more a Fund VII issue," with the GP expected to return to market early next year.

"This is about what is fundamentally going on within the GP and their plan for keeping the team together and deploying the remaining capital," the LP added. "With the correct amount of transparency and the right story - maybe some additional governance over the fund and how they operate - there is a way forward."

The departure is significant in terms of its implications for team stability. Fund VI was the first ChrysCapital raised following the departure of Ashish Dhawan, the firm's founder. He was replaced by a leadership team of six managing directors - Ashley Menezes, Kunal Shroff, Ravi Bahl, Sanjay Kukreja, Sanjiv Kaul and Kohli.

The loss of Kohli will reduce this team to four, after Bahl stepped back last year.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• People
• South Asia
• India
• ChrysCapital Management