IDG Ventures India founder Manik Arora to leave firm

His departure, scheduled for six months from now, was first reported by VCCircle. Other sources corroborated the information to AVCJ. Arora is a board member of several IDG portfolio companies, including Vserv Digital, Sourcebits Technologies, Ozone Media, and Firstcry operator Brainbees Solutions.

Prior to setting up IDG Ventures India in 2007, he led the India practice at Silicon Valley-based Battery Ventures. Arora has also enjoyed stints at General Atlantic as an investor - he was part of the early Asia team in Singapore - and as an investee. For the latter, he was part of the founding team at i-DNS International, a multilingual domain name registry.

Part of the global IDG Ventures network, which has approximately $3.6 billion under management and a portfolio of more than 220 companies built up over 15 years across five markets, the India unit currently has 29 portfolio companies listed on its website. It focuses on early-stage deals in digital consumer, enterprise software and engineering, typically investing $1-10 million per company.

A debut fund of $150 million closed in 2006. A successor vehicle was launched in 2013 with a target of $175 million and has yet to announce a close.

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