Vani Kola, managing director of early-stage venture capital firm Kalaari Capital has resigned from the board of directors of online furniture startup Urban Ladder. According to her letter of resignation, accessed through data intelligence platform Paper.vc, Kola attributed her resignation to other commitments.
“I hereby tender my resignation from the directorship of the company with immediate effect on account of other engagement,” read the letter dated August 19, 2019.
This comes in the backdrop of Urban Ladder’s funding crunch following which the firm had laid off around 90 employees in June.
Mint couldn’t immediately determine the reason for Kola’s resignation. An email sent to Kola is yet to elicit a response.
This isn’t the first time Kola has resigned from the board of her investee companies. In 2017, Kola resigned as director of e-commerce marketplace Snapdeal during the time it was going through a turbulent time and was preparing to be sold to rival e-commerce firm Flipkart.
The article was first reported on Livemint.com