Suhail Sameer plans to launch early-stage VC fund
- ByStartupStory | January 5, 2023
A report by the Financial Express (FE) claims, Suhail Sameer, the outgoing CEO of BharatPe, is said to launch a new early-stage Venture Capital (VC) fund. It will be used primarily to invest in consumer tech and fintech companies. Two other former co-founders of BharatPe will reportedly join him in the venture.
“I’m launching the fund along with two of my friends who are also ex-founders and prolific investors. We are going to put a large part of the capital ourselves (unlike traditional funds). We have enough interest, but we haven’t finalized anything on the fund construct and LPs,” he told FE.
On Tuesday, BharatPe announced that Sameer was stepping down from his post and will serve as the strategic advisor effective January 7.
“This will ensure a smooth transition for current CFO, Nalin Negi who has been appointed interim CEO to partner with senior executives to bolster execution in all phases of the company’s business,” the company said in a statement.
“We would like to thank Suhail for the tremendous contribution he made in steering BharatPe into a leadership position as a fintech player in India and helping us ride through various challenges during this journey. We have recognized the need to dedicate time and resources to finding the leader who will continue to catapult BharatPe to new heights,” said Rajnish Kumar, chairman of BharatPe’s board.
Sameer will begin serving as a strategic advisor at BharatPe from January 7, 2023
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