samir sood venture highway: Venture Highway founder Samir Sood steps down as partner; Priya Mohan now managing partner

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Samir Sood, the founder of Venture Highway, an early-stage venture capital firm, has stepped down from his position as a partner. He will continue to hold his position as the founder of the firm, with Priya Mohan being elevated to the position of managing partner.

Sood told ET that the “transition was planned and thought through.” He has taken the role of an advisor to assist the next generation to take charge and build the franchise further, he added.

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Mohan, who has been with the firm since 2018 , will now officially step into the position of managing partner. Neeraj Arora, cofounder of Venture Highway, sent out an official communication announcing this transition to the stakeholders in January this year, said Sood.

Sood has also worked at big technology companies like Google, Microsoft, and Cisco Systems. During his time at Google, Sood spearheaded its investments in several initial seed-stage funds in India, including Erasmic Venture Fund, which is now Accel India.

Commenting on the structural changes under the new management, Sood said there will be no changes in the investing strategy. “We will remain a zero-to-one seed fund investing in category creating tech companies building in India/US for India and the globe,” he added.

Venture Highway is in the midst of raising its third fund, being led by Mohan and Arora, who both hold the role of managing partners within the firm. The firm also onboarded Rahul Garg as a partner this year. Garg previously worked as a principal at Kalaari Capital and Iron Pillar.

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“We have completed the first close of the new fund and continue to actively invest from it,” said Sood. The development was first reported by online news portal Inc42.In 2020, the Delhi NCR-based firm raised $78.6 million for its second fund, with the aim of increasing its investments in early-stage startups. Venture Highway’s first fund invested in more than 20 companies.

Founded in 2015, Venture Highway has a portfolio of 70 companies with six unicorns including Meesho, Cred, Moglix and ShareChat. On September 29, ET reported that Venture Highway, one of the early investors in Meesho, is selling a majority of its stake in the company to WestBridge Capital in the secondary share sale at a valuation of about $3 billion.

Last month, ET reported that Orios Venture Partners , an early-stage investment fund, had two of its managing partners, Anup Jain and Rajeev Suri, step down from their roles. They both made these announcements on LinkedIn. On September 19, Bob van Dijk also quit as the CEO and board member of the Dutch tech investment firm Prosus and its parent company, South African conglomerate Naspers.

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