After CEO & Deputy CEO, In­noven Cap­i­tal Di­rec­tor Also Calls it Quits

The Economic Times - - Disruption: Startups & Tech - Our Bureau


Ben­galuru: An­shu Prasher, di­rec­tor at ven­ture-debt provider In­noven Cap­i­tal In­dia, has quit the firm to join Saama Cap­i­tal as its prin­ci­pal. His exit is the lat­est in a series of high-level res­ig­na­tions –– In­noven Cap­i­tal’s In­dia CEO Hat­tangdi and deputy CEO Vinod Mu­rali had left the plat­form ear­lier this year to start their own firm, called Al­te­ria Cap­i­tal.

Sin­ga­pore’s sov­er­eign wealth fund Te­masek had ap­pointed Chin Chao, CEO of In­noVen Sin­ga­pore and South­east Asia, as in­terim CEO for In­dia while it con­tin­ues to look for an In­dia head. The cur­rent cor­pus of the Ben­galuru and Sil­i­con Val­ley-based firm is about $140 mil­lion (about .₹ 935 crore).

Prasher is ex­pected to join Saama, which has backed com­pa­nies like Paytm and Snapdeal, by Au­gust-end, con­firmed a com­pany spokesper­son. He will join the team of Saama Cap­i­tal which in­cludes co-founders and manag­ing part­ners Ash Li­lani and Suresh Shan­mugham, along with part­ner Ki­ran­bir Nag. Prasher, who holds an MBA from IIM-Luc­know, joined In­noven in 2013 after work­ing at Ko­tak Mahin­dra and Citi In­dia. Saama’s team ex­pan­sion comes after the firm closed its third fund at $58 mil­lion, or about .₹ 390 crore, ear­lier this year.

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