Gautam Mago, managing director at Sequoia Capital India, has resigned after working with the venture capital and growth stage investor for 10 years. Mago has not talked about his future plans and projects but according to sources, he may start a new fund. Mago was one of the seven partners at Silicon Valley-headquartered venture capital firm’s India unit, having worked there for a decade. Apart from this, he’ll handover his board assignments to its team members and brief them about the projects. Reason behind his resignation is still a mystery.
On Tuesday, Mago tweeted that “Change is at the heart of our business, time to embrace it. Will transition away from current role. Been a privilege to work with founders and the Sequoia team, thankful for all the learnings.“
He wrote on the Sequoia website that “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 todays.”
Mago was involved in at least 16 portfolio companies which included budget hotel player OYO Rooms, online financial products platform BankBazaar, healthcare application Practo, mobile wallet player MobiKwik and artificial intelligence startup Mad Street Den. He is also connected with the non-technology companies such as pharmaceuticals firms Sai Life Sciences and health insurance Company Star Health and Allied Insurance Co.