Gautam Mago, the MD of VC investment firm, Sequoia India has announced his departure from the company. He would transition away from the current role. Gautam Mago’s further plans are not known as yet.
Gautam Mago was involved in at least 16 of the firm’s portfolio deals which include tech and non-tech both. He is an alum of IIM Calcutta from the 2004 batch. Prior to that, he had finished his Masters in Business from Mumbai University. He started his VC career as an analyst for Arthur Andersen. From there, he progressed to working as an Associate with global consulting firm McKinsey & Co. Mago joined Sequoia India in August 2009.
Also, Innoven Capital co-founders, Ajay Hattangdi and Vinod Murali have put in their papers to launch their own venture debt fund. They had launched the venture fund Innoven Capital along with Singapore’s sovereign wealth fund Temasek. Reportedly, Temasek has roped in an executive search firm to look for a replacement. Hattangdi was the India CEO at Innoven, driving international expansion in Southeast Asia and China as well. Murali was deputy CEO of India operations.
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LetsVenture Brings Farooq Oomerbhoy On Board
LetsVenture will now enable Pre-Series A and Series A/B deals. With this goal, LetsVenture will focus on bringing family offices and corporates on a private, curated and interpersonal platform, under the LetsVenture brand, which will allow them to co-invest with VCs and funds leading Series A/B deals while also sourcing and managing quality deal flow directly for family offices and corporates.
LetsVenture has thus brought on board Farooq Oomerbhoy as a Partner (Consultant) to lead this initiative.
Farooq Oomerbhoy is an active, early-stage investor. He is credited with being one of the first few investors to back the early-stage venture space in India. This enabled him to be the co-founder of Orios Venture Partners, India’s largest domestically raised venture vapital fund, with a corpus of US$50M.