SoftBank's Sumer Juneja promoted to managing partner

Sumer Juneja, who heads India investments for SoftBank has been promoted to managing partner, signalling SoftBank's intent to double down on the Indian technology market even as it is already well heeled.

The promotion makes Juneja one of 13 globally to report to Rajeev Misra, CEO of SoftBank's ambitious Vision Fund.

Juneja's promotion was announced along with three other investors from the US, China and other regions being promoted to managing partner.

Juneja and his team have pumped over $3 billion into Indian startups this year, including Meesho, Unacademy, Whatfix, Swiggy and OfBusiness among others.

Ecommerce logistics firm Delhivery, one of Juneja's first investments after he joined Softbank in late 2018 filed for an IPO recently, its valuation more than three times what SoftBank underwrote.

Juneja, an alumnus of the London School of Economics joined SoftBank from Norwest Venture Partners, where his deals ranged from traditional financial services to new age technology, most notably food delivery firm Swiggy and lender Cholamandalam.