The India head of CapitalG, Kaushik Anand is reportedly is quitting from the growth-stage fund. CapitalG is one of the largest investments units across the globe that is owned by Google’s parent Alphabet.
With his departure, Anand is slated to join A91 Partners, an investment firm set up by three ex-Sequoia managing directors. He is being expected to join the A91 board as a Partner early next year. This development was confirmed by Anand as well as CapitalG.
The fund which was earlier known as Google Capital started investing in India in 2014 and has backed companies like Aye Finance, Cuemath, CarDekho, Freshworks, and Practo.
“We have experimented with different operating models and have decided to return to a centralized office located in San Francisco. We look forward to continuing to invest in India,” a Google spokesperson said.
Also, the person mentioned that there will be no material change with Anand’s exit and that the fund will continue to invest in Indian entrepreneurs. He will continue to focus on technology, healthcare, and financial services sectors at A91.
With a focus on series B and C investments in the range of $10-30 million, A91 is expected to start deploying capital by the first quarter of next year.