IvyCap Ventures Managing Partner Tej Kapoor Joins ICICI Venture

IvyCap Ventures Managing Partner Tej Kapoor Joins ICICI Venture

SUMMARY

In his new role at ICICI Securities, Kapoor will oversee the PE firm's participation in Series A+ and Series B fundraisers for growth stage startups

Kapoor departs from the organisation after a brief stint of 1 year 10 months

During his time with IvyCap, Kapoor held boardroom positions in Celcius Logistics Solutions, Agraga, and GradRight

After a brief stint at IvyCap Ventures as its managing partner, Tej Kapoor announced that he has moved from the VC firm and joined ICICI Venture as a director/ partner. 

Taking to LinkedIn, Kapoor said that his new role will entail overseeing the private equity firm’s participation in Series A and Series B fundraisers for growth stage startups. 

During his almost two year engagement with IvyCap, Kapoor held boardroom positions in Celcius Logistics Solutions, Agraga, and GradRight. It is pertinent to note that Kapoor has been associated with multiple VC firms over his career spanning more than two decades. 

He first joined dmg :: information as its investment head back in 2013, a position he held till 2016. 

He then joined Chinese VC firm Fosun RZ Capital in 2016. During his six-year stint at the VC, he served as a board member for startups like Kissht, ixigo and Delhivery.

His move from the VC comes days after it announced the final close of its third fund at  $251 Mn. 

With the closure of ‘IvyCap Ventures Trust Fund 3’, the firm’s total assets under management surged to around $600 Mn. Since its inception in 2011, the Vikram Gupta-led VC firm has backed Eggoz, ZestIot, Snitch, Flexifyme, Beatoven.ai, Dhruva Space, among others. 

Meanwhile, Kapoor’s new employer, ICICI Ventures, last led a $35 Mn Series E funding round for lendingtech startup Indifi back in June 2023. 

The ICICI bank-backed firm has made over 100 investments since 2002. Till date, the firm has rolled out 5 PE funds under the title India Advantage Fund and holds startups like Zopper, Team Lease, India1 Payments limited, among other companies. 

Kapoor’s move comes at a time when top-level exits at VC firms in India are becoming increasingly common. Yesterday (April 2), Venture Highway’s Aviral Bhatnagar announced his departure from the firm, while Peak XV Partners’ managing director Piyush Gupta also announced his time with the firm culminating by the end of the month

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