100X.VC Cofounder & Partner Shashank Randev Quits

SUMMARY

Shashank Randev announced on LinkedIn his decision to quit the VC firm. However, there was no clarity on his next course of action

Reminiscing his journey, Randev said that 100X.VC invested $20 Mn in 180 Indian companies and backed 400+ founders during his tenure

Founded in 2019, 100X.VC counts startups like abCoffee, Accio Robotics, Kerala Banana Chips, Vodex.ai, among others, in its portfolio

100X.VC’s cofounder and partner Shashank Randev has quit the early-stage venture capital (VC) firm.

“After 5+ years of relentless pursuit, a very rewarding journey with energetic founders, and scaling up dreams at 100X.VC, the time has come to begin the next chapter,” Randev said in a post on LinkedIn.

There was no clarity on why he left the firm and his next course of action. “I’m grateful for every lesson and every milestone along the way. Here’s to building, to dreaming bigger, and to the journey ahead… Let’s begin the next chapter,” he wrote.

Reminiscing his journey, Randev said that 100X.Vc invested $20 Mn in 180 Indian companies, backed 400+ founders, and “impacted” more than 4,000 employees during his tenure. Randev also said that he helmed as many as 100 investments at the VC firm with a ticket size of $150K per startup and 80 investments worth $30K per startup during his stint.

In his post, he also claimed that Series A startups comprise 12% of the early stage investment firm’s portfolio, while 5% of the new-age tech companies in its kitty belong to Series B stage.

Terming his journey with 100X.VC a “masterclass in innovation and resilience”, Randev said that the VC firm built the “go-to early-stage seed fund” from ground up with industry veterans, mentors and well-wishers.

An alumnus of Nagpur University, Randev completed his MBA from International Management Institute (IMI). He worked with companies like Z Nation Lab, Zensar Technologies, among others.

Eventually, Randev, along with Sanjay Mehta, founded 100X.VC in 2019. The investment firm has startups like abCoffee, Accio Robotics, Kerala Banana Chips, Vodex.ai, among others, in its portfolio.

Randev’s departure comes at a time when the Indian investor ecosystem has seen a number of top-level exits. In April this year, Aviral Bhatnagar stepped down from investment firm Venture Highway, where he oversaw investments in SaaS, consumer and AI sectors.

Last month, it was reported that VC firm Orios Venture Partners’ chief financial officer (CFO) and chief operations officer (COO) Gaurav Bindal quit the firm. In 2023, multiple partner-level departures were also witnessed at top VC firms like Lightbox, Rebright, Lightrock India and Together Fund amid the funding winter.