Gautam Mago, a managing director of India’s one of the most active VC firm Sequoia Capital India, has reportedly quit. As per the reports, he has put in his papers at the venture capital firm and will transition out of the role in the next few months.
Mago was one of the seven partners at Silicon Valley-headquartered venture capital firm’s India unit, having worked there for a decade. While his future plans are not clear, one source aware of the matter said that he may start a new fund.
On Twitter, Gautam Mago said:
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 was based out of Sequoia’s Bengaluru office and was involved with 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.
Mago comes from a consulting background, having worked at McKinsey in India and the US. He joined Sequoia around ten years ago when he was just 28. He says that all areas where technology can impact or create large markets are interesting to him.
In 2006, a Silicon Valley based VC firm, which backed technology giants such as Apple, Google, LinkedIn and WhatsApp—acquired Westbridge Capital Partners, an Indian venture capital firm, and renamed it to Sequoia Capital India.
Since then, Sequoia Capital India has invested in more than 100 companies in the country, including high-profile startups like Ola, Zomato and Micromax.