After having a decade-long stint at Sequoia Capital India, Gautam Mago had resigned from the Silicon Valley-based venture capital firm in December last year. Following his resignation, Mago also had to move from the board of the VC’s portfolio companies.
Mago was associated on behalf of Sequoia India at companies including Practo, MobiKwik, Oyo, and Ola amongst 12 others. The stint for an IIM-C alumnus at Sequoia ended in December last year. In the same month, he resigned from boards of companies including Oyo Rooms, Mobikwik, Porter, BankBazaar and Urban Ladder.
Mago clarified that his resignation was without prejudice to the rights of Sequoia Capital India to nominate a director to the Board of Directors, reports paper.vc citing regulatory filings.
Aso read: Sequoia Capital to raise $1 Bn India-focused fund
While it’s not clear who all have replaced Mago on the board of above companies, Entrackr has sent a detailed query to Sequoia India for the confirmation.
Before joining Sequoia India in 2007, Mago worked with management consulting firm McKinsey & Company and Arthur Andersen.
Last year, the firm invested about $183 million across 23 deals in India, mainly in the technology, consumer, and healthcare sectors, according to data research platform Venture Intelligence.
Meanwhile, Sequoia Capital is planning to raise up to $1 billion which it will invest in Indian startups. This will be the sixth India-focused fund and will also be the largest corpus raised by any VC for the domestic market.
The venture capital firm also plans to invest in Southeast Asia-based startups from the new India-focused fund. It manages about $3.2 billion of investments in India and SEA region.
