Investor of Unacademy, Postman, Delhivery and Druva - Sandeep Singhal steps down
Sandeep Singhal, one of India's first startup and venture capital investors, is leaving Nexus Venture Partners, the firm he co-founded and led from 2006 onwards
Investor of Unacademy, Postman, Delhivery and Druva - Sandeep Singhal steps down
Sandeep Singhal, one of India's first startup and venture capital investors, is leaving Nexus Venture Partners, the firm he co-founded and led from 2006 onwards. His exit comes even as Nexus is closing a record $500 million fund which will take its assets under management to $1.7 billion.
Nexus Venture Partners, an investor in some of India's hottest unicorn startups such as Unacademy, Postman, Delhivery and Druva is seeing a co-founder and one of India's earliest startup investors leave the firm, signaling a change of guard for one of the country's largest startup investors.
Sandeep Singhal, co-founder and managing partner of the firm is stepping down from his role and will not be involved with the firm's $500 million sixth venture fund it is currently raising- or any future funds, these people said, requesting anonymity.
Fifty-eight-year-old Singhal started the firm in 2006 with Suvir Sujan and Silicon Valley-based Naren Gupta, and has helped make it one of India's largest homegrown venture capital firms, managing over $1.2 billion.
Singhal's decision to step down has been communicated to his partners and Nexus' Limited Partners- the people and institutions that have invested in Nexus over the years. His existing portfolio will also be redistributed for other investors to manage. Singhal may become an impact investor, joining a firm or investing by himself.
His investments include Eka Software, doctor consultation firm Lybrate and food assessment firm Intello Labs among others. His exits include Netmagic Solutions' sale to Japan's NTT for about $120 million and Shell's investment in solar firm d.light. Notably, Singhal hasn't made many fresh investments the last few years and has spent more time managing his existing portfolio and in co-leading the firm.