Sachin Tagra from Network18 Group, where he headed investments at Capital 18, a startup investor firm, has been appointed as a partner with JSW Ventures, the startup investment arm of steel and energy conglomerate JSW Group, reported Mint.
Gaurav Sachdeva, Managing Partner, JSW Ventures said, “Sachin has significant experience in scaling up businesses from their startup phase. This will be crucial as we build and launch a bigger fund as well as support our current portfolio companies in scaling up their businesses.”
“Sachin has been an angel investor himself and also mentor start-ups at various incubators and accelerators,” he added.
The appointment by the JSW Ventures comes at a time when the company is planning to mark a first close of its second fund this year.
While the first fund was entirely backed by the Jindal family, it is seeking to raise money from external investors for the second fund.
Furthermore, as per the data from Venture Intelligence, a startup data tracker revealed that the total investment value too, fell for the third straight quarter, from $333 million in Q4 last year, to $216 million last quarter.