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Sequoia Capital India MD steps down, to launch his own venture

Sequoia Capital India MD steps down, to launch his own venture

Jain had joined Sequoia Capital India in 2019 from Uber where he was the Asia –Pacific head of Uber.

Sequoia Capital India, MD Amit Jain has stepped down from his role Sequoia Capital India, MD Amit Jain has stepped down from his role

Global venture capital firm, Sequoia Capital’s Indian arm’s Managing Director, Amit Jain has stepped down from his role to start his own entrepreneurial journey. Jain had joined Sequoia Capital India in 2019 from Uber where he was the Asia –Pacific head of the ride-hailing giant.

Sequoia Capital India announced in a series of tweets regarding Jain’s decision to quit the VC firm. “@Sequoia_India a fertile place for future founders across the firm. And so, one of our most loved & respected leaders, @amitjain1 , has decided to pursue his entrepreneurial dreams. Amit joined us from Uber in 2019 and brought a world class operator's perspective to our investing teams. He has been an amazing contributor to so many start-ups, having led or co-led growth rounds; served on the board of scaled companies. He is launching a start-up with massive potential in an exciting category. He will stay on with us for some time as an Entrepreneur in Residence as he lays out the blueprint for his ambitious new idea. We will miss him, but couldn’t be more excited for what lies ahead,” the VC firm tweeted.

Jain meanwhile said that the announcement on his start-up will be made in coming weeks.

Jain’s exit comes amidst reports that Sequoia Capital India is in talks to close its largest fund yet for India and South-east Asia at $ 2.8 billion, almost 2x more than $1.35 billion that the fund closed in 2020.The development was first reported by MoneyControl.

According to data sourced from Venture Intelligence, Sequoia Capital India was the topmost investor in Indian start-ups in 2021 in terms of deal volume. The VC giant participated across 102 funding rounds in 2021, almost double than New York-based Tiger Global which participated in 56 deals during the period.