In the latest people moves, VT Bharadwaj, managing director at Sequoia Capital India, has quit the venture capital firm after serving for about 11 years. In another development, Ant Financial executive chairman Lucy Peng is stepping down from her position to focus on Alibaba Group’s e-commerce expansion in Southeast Asia.
VT Bharadwaj quits as Sequoia India MD
VT Bharadwaj, managing director at Sequoia Capital India, has quit the venture capital firm after serving for about 11 years to pursue his entrepreneurial aspirations, he tweeted on Tuesday.
“After 11 years with @Sequoia_India, I have decided to pursue my entrepreneurial aspirations. It has been a wonderful ride and I have enjoyed every minute of it,” he announced on Twitter.
“A special part of this role has been the privilege to partner with incredible founders in consumer and healthcare. I will continue to serve on Sequoia boards. Stay tuned for what’s next,” he added.
According to his profile on Sequoia website, Bharadwaj serves as an investment advisor to 14 portfolio companies, including Celon Labs, Cloud Nine, Faces, Genesis Colours, Hector Beverages, Indigo Paints and RAW Pressery, among others.
Bharadwaj, an IIM-Ahemdabad graduate, had previously worked with McKinsey & Company as an engagement manager for six years till 2007.
Lucy Peng steps down as exec chairman of Ant Financial
Ant Financial executive chairman Lucy Peng is stepping down from her position after leading it for eight years following her appointment as chief executive of south-east Asia-focused e-commerce group Lazada.
She is being replaced by Eric Jing, chief executive of the Alibaba affiliate, who will take on the additional role of Ant Financial’s executive chairman with immediate effect.
Peng served as the Chief People Officer of Alibaba Group Holding Limited since June 2014 until April 2016. She joined Alibaba Group in 1999 as a member of founding team and previously served as its Chief People Officer, according to Bloomberg.
Peng will focus on driving Lazada’s business growth as a key part of the global strategy of Alibaba Group, Ant said in a statement.