Silicon Valley venture capital firm
Tribe Capital, which last year announced plans of setting up a $250 million India-specific alternate investment fund (AIF) has roped in a founder from its own portfolio to head this foray.
The $1.6 billion fund has hired
Vishesh Khurana, co-founder of
Shiprocket, a logistics technology unicorn that also counts
Zomato as its investor. "Expanding our investment footprint in the region entails a stronger local presence, which means more local partners and capital resources," Arjun Sethi, co-founder and chairman at Tribe Capital said in an email.
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"To spearhead this initiative, Vishesh Khurana and Raj Snehil Juneja have joined Tribe Capital India, leading our India-focused endeavors alongside myself."
Juneja, who will work with Khurana, is a venture capital investor and founder of investment firms such as Disruptors Capital and First Unicorn Capital. The development comes at a time when Shiprocket is in advanced talks to raise $70-100 million with a majority of the capital expected to come from Tribe Capital.
According to sources, the current round of funding will have around 70% of secondary component to give exit to early investors.