Four founding partners at the India unit of US venture capital firm Sequoia Capital have resigned to set up a company for public market investments in India, the company said on Tuesday.
Sumir Chadha, KP Balaraj, SK Jain and Sandeep Singhal will, however, continue to represent Sequoia Capital on the boards of private and public companies in which the company has invested, it said in a statement.
The company named a team of five managing directors, Abhay Pandey, G V Ravishankar, Mohit Bhatnagar, Shailendra Singh and V T Bharadwaj, who will run the India business for the venture capital firm.
Sequoia Capital manages funds worth about $1.4 billion in India, and has invested in more than 60 Indian firms including mobile telephone operator Idea Cellular and microfinance firm SKS Microfinance.