VT Bharadwaj and Gautam Mago, two former managing directors of India’s unit of Silicon’s Valley top venture capital fund Sequoia Capital, join forces to launch a new $290 million investment firm, to provide support to early and scale-up stage startups.
Times of India reports that the new investment firm will be called “A91 Partners” and will be investing in emerging startup ventures in the sectors of healthcare, consumers, financial services, and technology. The firm is planning on making its investment by the beginning of 2019 with a ticket size of $10-30 million.
VT Bharadwaj, who worked for more than 10 years at Sequoia Capital India, has quit the firm in April this year, hinting that he’s about to pursue his entrepreneurial interests. Similarly, at that time Gautam Mago had already resigned from the VC firm.
“Gautam and I believe this is the right time for us to be embarking on an entrepreneurial journey in the investment business. We want to be active meaningful long-term partners in the best emerging small- and mid-sized private companies in India,” VT said.