Eight Roads Ventures’ Asia Managing Partner Raj Dugar Steps Down After 17 Years

Eight Roads Ventures’ Asia managing partner Raj Dugar has reportedly stepped down after 17 years with the investor.

While not finalised yet, Dugar has been engaging with investors within the ecosystem and may start his own secondaries fund to tap into a growing market, one of the people cited above said. He has even relocated back to Mumbai, Moneycontrol reported.

Inc42 has reached out to Eight Roads Ventures for comments on the development. The story will be updated based on the response.

As per his LinkedIn profile, Dugar joined the company in 2007, and set up the India and Southeast operations while working with the investor company. Prior to that, he worked with The Carlyle Group, Merlion India Fund and Goldman Sachs.

Dugar, also cofounded Westbridge Capital Partners and worked with the firm as managing partner for three years.

He ended his period with Eight Roads Ventures earlier in January, as per his public profile.

Top level exits have not just been on a competitive rise in startup firms and corporates, but has played its part in investment companies too.

In April alone, Peak XV Partners’ managing director Piyush Gupta quit his position, while General Catalyst’s Anand Chandrasekaran stepped down as partner, and Aviral Bhatnagar, who was leading investments in SaaS, consumer and AI sectors at Venture Highway, resigned from the VC firm. 

Eight Roads Ventures is a venture capital firm founded in 1969, and is based out of Mumbai in India. The investment firm, backed by Fidelity, aims to invest in ambitious technology and healthcare founders from across the globe.

Exponent Energy, an energy tech startup secured INR 220 Cr ($26.4 Mn) in its Series B funding round led by Fidelity-backed Eight Roads Ventures, in December 2023, to strengthen its manufacturing and business operations.