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Private equity firm Sequoia Capital said that it will be putting in place a new management team to replace the four founding members who quit recently.
“The original WestBridge Capital Partners founders – Mr Sumir Chadha, Mr K.P. Balaraj and Mr S.K. Jain and Mr Sandeep Singhal – have resigned to form a firm devoted to public market investing in India,” said a statement from Sequoia.
“Mr Abhay Pandey, Mr GV Ravishankar, Mr Mohit Bhatnagar, Mr Shailendra Singh and Mr VT Bharadwaj have become responsible for the management of its business in India.”
These five members have been in the company for some time now. “They have been involved with a majority of the companies in all of the Sequoia Capital funds and have worked closely as partners with the entrepreneurs of these portfolio companies,” the statement said.
The four founding-members will continue to represent Sequoia Capital on the boards of various private and public companies, and will work with the venture fund's team on investment opportunities in areas that may overlap.
Sequoia Capital manages funds capitalised at close to $1.4 billion in India and invests in venture, growth and late stage opportunities.
The venture capital fund has invested in more than 60 Indian companies. It operates from Bangalore, Mumbai and New Delhi.
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