Fosun RZ Capital Senior Director for India, Vipin Agarwal, has put in his papers. As a Senior Director-Investments at Fosun India, Agarwal had led early and growth-stage investments for the Beijing-headquartered venture capital firm.
According to his LinkedIn profile, Agarwal had managed investments and exits in 11 companies in his 20 months tenure. He also served on boards of 9 companies, including Mylo and Kredily and acted as an independent director and advisor for some startups as well.
Entrackr had reached out to Tez Kapoor, Managing Director and Head of Fosun RZ Capital India, who confirmed the departure of Agarwal from the firm.
A report published in VCCircle outlines that he may float a new venture soon.
Before joining Fosun, Agarwal had co-founded edtech startup OnlineTyari and was the CEO of the Gurugram-based startup. As an advisor at NASSCOM, he had advised the government of India to launch Pradhan Mantri Gramin Digital Saksharta Abhiyaan and became a part of Digital India Plan.
Backed by the Fosun Group, Fosun RZ handles $850 million fund, which primarily invests in early and growth-stage companies across India, China and the US.
Initiated with focus on Series B and other public equity deals, Fosun has shifted the gear and started to tap early-stage and seed rounds since June 2018. In two and half years of operations in India, Fosun has backed tech startups like ixigo, Delhivery, LetsTransport, Kissht Mylo, Kredily, Headfone among others.
Meanwhile, the venture capital firm is also ramping up the team to evaluate and back more startups in the country.
Entrackr had exclusively reported in June about Fosun RZ looking to hire Managing Directors and Analysts to escalate their TMT investments.