Anup Jain and Rajeev Suri, the Managing Partners of Orios Venture Partners, said on September 18 via LinkedIn that they are departing from the venture capital (VC) firm to embark on a new venture of their own, adding to the growing list of high-profile exits from VC firms in recent times.
“I move on to do something new and exciting soon. I believe India's golden years have begun and, the recently concluded #G20 Summit has inspired me immensely of the true potential we have as a country and our place in the world,” Jain said in a LinkedIn post.
“More on this in the coming weeks and months as the new conversations begin now,” he added.
It is learnt that both are planning to start another fund but Jain did not confirm the same on Moneycontrol's queries.
Jain, who joined Orios Venture Partners in 2017, was an angel investor prior to that. He took charge as the Managing Partner of Orios in June 2018 and has led 12 early-stage and four growth-stage investments for the VC firm.
“But, this is to take a moment to thank and offer my best wishes to folio founders, co-investors and indeed, the past and present team at Orios Venture Partners and many others from around the world who continue to influence my growth one-way or another,” he said in his LinkedIn post.
Meanwhile, Suri, a former marketing veteran who has worked in top capacities at companies, including Infosys and Jio, joined Orios as a Managing Partner in January 2019. Suri, an IIM Bangalore graduate, was leading investments, fundraising, and investor relations at Orios.
“Creation excites, and I am moving on to create something exciting. It has been a tremendous journey of 5 years. Thank you so much, folio Founders, and Team Orios,” he said in his LinkedIn post.
“Rajeev Suri, who was heading investor relations and Anup Jain, who was part of the investing team have departed,” Orios said in an official statement.
“Rehan Yar Khan continues to head fund investments along with a 9-member team, including Sukhmani Bedi, Partner. Gaurav Bindal, COO & CFO continues to head fund operations. Ashish Mishra, President, will now head investor relations. Orios will continue to look to make 8 to 10 investments a year,” the VC firm said.
Orios Venture Partners, a firm focused on early and growth-stage investments, has backed more than 80 companies to date majority of which are headquartered in India. The company has four portfolio unicorns, including Vedantu, Pharmeasy, Ola and Druva Software. Earlier this year, the VC reportedly had written down its investment in beleaguered startup GoMechanic. However, later GoMechanic was acquired by auto component maker LifeLong Group.
Suri and Jain are now among the increasing number of notable departures from VC firms. In February 2022, Amit Jain, Managing Director of Sequoia Capital India (now Peak XV Partners) stepped down to start his new venture.
In March, Avinash Raghava of Girish Mathrubootham-led Together Fund quit to join SaaSBoomi as its CEO. Earlier this month, Brij Bhasin, a senior executive at Rebright Partners also quit to start his own artificial intelligence (AI) startup. Earlier in the day, Bob van Dijk, the chief executive officer (CEO) of Naspers and Prosus stepped down from his position with immediate effect.
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