Bengaluru, 20 th December 2021: Chiratae Ventures announces key elevations in its growth journey of three Managing Directors and AVP
Chiratae Ventures, formerly known as IDG Ventures, has announced the promotion of four key members. Karthik Prabhakar, Ranjith Menon, and Venkatesh Peddi have been elevated to Managing Directors, and Gayatri Menon has been elevated to Associate Vice President – Legal.
Karthik Prabhakar, Ranjith Menon and Venkatesh Peddi have spent over a decade at Chiratae and have worked as a close-knit team. Karthik leads fundraising at Chiratae Ventures and has led investments in EarlySalary, NestAway, PlaySimple and PlayShifu, amongst others. Ranjith, leads Health tech sector and has led investments in GoMechanic, Bizongo, Zumutor, Redcliffe and Uniphore amongst others. Venkatesh, leads the SaasS sector and has led investments in Deepfence, Healthplix, Hevo, Pyxis, among others.
Chiratae Ventures is a leading homegrown early-stage tech VC backing stellar ventrepreneurs disrupting or creating new ecosystems. The Bengaluru based VC fund was co-founded by Sudhir Sethi, Founder and Chairman and TCM Sundaram, Founder and Vice Chairman in 2006.
Speaking about the team and its culture, Sudhir Sethi, the Founder and Chairman of Chiratae Ventures shares: “At the outset my congratulations to Ranjith, Venkatesh, Karthik and Gayatri on their elevation. Their contribution in staging Chiratae Ventures to a leadership position has been outstanding. In pursuing our goal of growing 3x Chiratae leaders are poised to raise multiple funds, invest faster and deliver 3x more exits year by year.”
Sudhir Sethi, Founder and Chairman, with TCM Sundaram, Founder and Vice Chairman, Chiratae Ventures
This year also marks a milestone for Chiratae Ventures. It completed its 15 years in the Indian Startup Ecosystem and announced its final close of the fourth fund oversubscribed at $337 million in August. Through the years, the team has delivered value for its investors with over 39 exits and driven portfolio growth as demonstrated by $1 billion AUM since its inception, 3 IPOs and 6 Unicorns, with more round the corner.
Chiratae has been an early backer of AgroStar, Bizongo, Bounce, Cropin, Curefit, EarlySalary, Emotix, Firstcry, GlobalBees, Go Mechanic, HealthifyMe, Lenskart, Myntra, NestAway, Pyxis, Vayana, Uniphore, amongst others.
Matching its scale and growth aspirations, the fund has been beefing up its leadership. The recent promotions are aligned to an overall strategy to provide an accelerated growth path for its team that is expected to grow by 60 percent in the coming months with the addition of another 15 professionals.
The elevations come on the back of seven recent appointments made by Chiratae in its Investment and Marketing teams and align with their growth vision.
TCM Sundaram, Founder and Vice Chairman, shared, “Over the past decade Karthik, Ranjith and Venkatesh have been at the forefront of investing in very successful companies as well as leading sectors for Chiratae Ventures and been role models for our new and younger team members. Gayatri, as legal counsel, has contributed significantly to Chiratae’s investments, divestments and fundraising over the past four years and has become an integral part of the Chiratae Team. I wish the team long and successful innings at Chiratae in creating unicorns and IPO candidates in years to come.”
L-R: Karthik Prabhakar, Ranjith Menon, Gayatri Menon and Venkatesh Peddi