Rahil Chowdhri, Ritesh Banglani and Alok Goyal are likely to share more details early next year
Partners leaving established venture capital firms to start their own funds seems to be the trend nowadays.
The latest example? Rahil Chowdhri, Ritesh Banglani, and Alok Goyal — three Partners at Helion Ventures, a nine-year-old investment company based in India — have left to start their own technology startup-focussed fund, reported Deal Street Asia.
No specifics have been given yet, although Goyal told VC Circle that the three of them are more “likely to talk on their plans early next year”.
“The departing executives will separate from the firm over the next few weeks and will cease to provide any ongoing assistance to the portfolio companies,” wrote Helion in an official statement.
The three aforementioned partners were in charge of managing “more than a dozen firms under Helion’s portfolio including Housing.com, Lifecell, Dentys, TrulyMadly, Whatfix, BigBasket, Shopclues and Toppr”, noted VC Circle. Helion has more than 60 companies in its portfolio.
VC Circle rightly wrote in the same article that this particular scenario is “similar to what happened at Sequoia Capital India in 2011 when founding partners KP Balaraj, Sumir Chadha, Sandeep Singhal and SK Jain left to launch PIPE-focused fund WestBridge Capital.”
In Southeast Asia, such a trend is forming as well. Koichi Saito, for example, had left his job as a Director at IMJ Investment Partners to start KK Fund earlier this year.
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