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Global private equity firm Sequoia Capital has put in place a new management to replace the founding partners who resigned on Monday.
Mr Abhay Pandey, Mr G.V. Ravishankar, Mr Mohit Bhatnagar, Mr Shailendra Singh and Mr V.T. Bharadwaj will be responsible for the management of its business in India, Sequoia Capital said in a statement today.
The founder members of the company managing $1.4-billion assets in India — Mr Sumir Chadha, Mr K.P. Balaraj, Mr S.K. Jain and Mr Sandeep Singhal — quit leading to a transition in the management level.
The original WestBridge Capital Partners founders, Mr Sumir Chadha, Mr K.P. Balaraj, Mr S.K. Jain and Mr Sandeep Singhal have resigned to form a firm devoted to public market investing in India, the statement said.
Mr Chadha and Mr Balaraj started WestBridge in 2000 when the venture business in India was virtually non-existent and were joined in 2001 by Mr Jain and Mr Singhal, it said.
The four are going to continue to represent the PE firm on the boards of a variety of private and public companies and hope to work with the team on future investment opportunities in the areas that may overlap, it said.
Sequoia Capital has invested in more than 60 companies, including Comviva (Bharti Telesoft), Cafe Coffee Day, Dr Lal Pathlabs, Fashion & You, Firstsource, Idea Cellular, Just Dial, Micromax, Quickheal and SKS Microfinance.
In India, the company operates from offices in Bangalore, Mumbai and New Delhi.
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