Managing director of Sequoia Capital India Gautam Mago has resigned from the venture capital firm. Mago tweeted on Tuesday saying he would be transitioning from his current role in Sequoia after completing 10 years in the firm. While he did not mention where he would be moving to, according to a report in EtTech he may start his own fund.
1/ This month, complete 10 unforgettable years with @Sequoia_India Change is at the heart of our business, time to embrace it…
— Gautam Mago (@gautammago) June 20, 2017
At Sequoia, Mago managed the firm’s investments in companies like BankBazaar, Belong, Capital Float, Fintellix, MadStreetDen, Mobikwik, Ola Cabs, Oyo Rooms, Porter, Practo, Runnr, Sai Life Sciences, Star Health, Tiny Owl, UnitedLex and Urban Ladder. Mago was based out of Sequoia’s Bengaluru office. In his profile, Mago says, “All areas where technology can impact or create large markets are interesting to me. Markets and technology keep changing. The only certainty is that tomorrow’s focus will be different from today.”
Prior to joining Sequoia, he was an associate at Mckinsey & Company for 3 years. He has also worked as an analyst at Arthur Andersen.
Sequoia in India
Sequoia started operations in India in 2006. The firm has invested in 117 companies in India. In June this year, the firm topped up its fourth India-focused fund with $125 million making it a total fund of $850 million. It has also raised its fifth India-focused fund of $930 million in 2016. Total capital under management at Sequoia Capital India, which also invests in Southeast Asia, to about $3.2 billion as indicated by Economic Times.