General Atlantic’s India And Southeast Asia Head Sandeep Naik To Step Down, Transition Into Advisory Role

General Atlantic’s India and Southeast Asia head and managing director, Sandeep Naik, will be transitioning into an advisory role within the private equity firm by the end of this year.

As per Moneycontrol’s report, Naik will be moving on from his position, following which responsibilities will be shared between Shantanu Rastogi in India and Neal Kok in Southeast Asia. Rastogi, a long-time executive at the firm, became managing partner in 2017 and has shared the title of India head with Naik for the past few years. 

General Atlantic has declined Inc42’s queries on the development.

Currently, Naik heads operations for India and the Asia Pacific region, managing and overseeing all of General Atlantic’s investments in these areas. He joined the firm as managing director and head of its India office in 2012, following his tenure at Apax Partners. 

Among his philanthropic endeavours, he cofounded ToolBox India, an organisation that connects professionals and non-profits to enhance productivity and efficiency in the social sector.

Since late 1990s, General Atlantic has invested over $6 Bn in 45 companies across India and Southeast Asia. 

The fund has backed over 440 firms, including BYJU’s, Unacademy, PhonePe, Acko, Amagi, BillDesk, and NoBroker. Besides, it also counts legacy companies like PNB Housing Finance, Rubicon Research, and Capital Foods (Ching’s Secret) among its portfolio.

Earlier this year, General Atlantic hired former KKR director Neal Kok to lead its investments in Australia and the Asia Pacific region. Last month, the firm announced that Anand Agarwal, CFO of Amazon’s consumer business in India, would join the regional leadership team as an Operating Partner for India and Southeast Asia.

Reportedly, General Atlantic plans to invest up to $1 Bn annually in India over the next few years, focusing on businesses aligned with Prime Minister Narendra Modi’s initiatives to expand financial inclusion and technology usage. 

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