Managing partners Anup Jain and Rajeev Suri have announced their departure from Indian early-stage venture capital firm Orios Venture Partners to pursue other opportunities.
Both the outgoing managing partners announced their respective exits from the company through the professional social networking site LinkedIn on Monday. The two officially joined Orios Venture as managing partners in 2018.
“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.
Jain joined Orios Venture Partners in 2017 and became managing partner in 2018. According to reports, Jain led a dozen early-stage and four growth-stage investments for Orios Ventures during his tenure as managing partner.
“More on this in the coming weeks and months as the new conversations begin now!” he added.
Rajeev Suri, on the other hand, worked at Jio, Viu, and Infosys before joining Orios Venture Partners. At the firm, he was responsible for investor relations, fundraising, and investments. “Creation excites, and I am moving on to create something exciting. It has been a tremendous journey of 5 years,” Suri said.
Mumbai-headquartered Orios Venture Partners was launched in 2014 and focuses on investments in the Indian technology sector. Its portfolio companies include Country Delight, a direct-to-consumer (D2C) food essentials brand, Battery Smart, a battery-swapping network for electric vehicles, and travel portal Ixigo.
In April, Jain told DealStreetAsia that the firm was targeting a total corpus of $120 million for its latest fund, as it looks to ramp up investments in early-stage startups. Orios had already amassed a significant part of the capital and has clocked as many as 17 investments from it so far.
The fund’s portfolio includes edtech upskilling firm Nxtwave, robo-advisory firm Wright Research, B2B marketplace Suite42, and Cleantech startup Varaha, among others.
The firm announced the final close of Orios Select Fund in 2021 at $30 million, which it had raised to make follow-on investments in the firm’s existing portfolio companies. Prior to that, it had closed two early-stage funds — Orios Fund I and II — in 2015 and 2018, respectively.