Summary:

  • After a short stint, Tej Kapoor of IvyCap Ventures has made a significant career move, transitioning to ICICI Venture as a director/partner

  • Kapoor’s new professional endeavour at ICICI Ventures aligns with the firm’s recent activity, including leading a noteworthy $35 million Series E funding

  • His transition from IvyCap Ventures to ICICI Venture marks a significant milestone in his career trajectory

After a short tenure as managing partner at IvyCap Ventures, Tej Kapoor has made a significant career move, transitioning to ICICI Venture as a director/partner. Sharing the news on LinkedIn, Kapoor outlined his new responsibilities, which primarily involve overseeing the participation of the private equity firm in Series A and Series B fundraisers for growth-stage startups.

During his nearly two-year stint with IvyCap, Kapoor held pivotal positions in companies like Celcius Logistics Solutions, Agraga, and GradRight. Notably, Kapoor boasts a rich history spanning over two decades in various VC firms. His journey began in 2013 when he assumed the role of investment head at dmg:: information, which he held until 2016. Subsequently, he joined the Chinese VC firm Fosun RZ Capital in 2016, where he served as a board member for prominent startups such as Kissht, ixigo, and Delhivery for over six years.

Kapoor’s decision to part ways with IvyCap comes hot on the heels of the firm’s announcement regarding the final close of its third fund, amassing a substantial $251 million. This development catapulted the firm’s total assets under management to approximately $600 million. Since its inception in 2011 under the guidance of Vikram Gupta, IvyCap Ventures has provided backing to notable startups like Eggoz, ZestIot, Snitch, Flexifyme, Beatoven.ai, and Dhruva Space.

In contrast, Kapoor’s new professional endeavour at ICICI Ventures aligns with the firm’s recent activity, including leading a noteworthy $35 million Series E funding round for lending tech startup Indifi in June 2023. Backed by ICICI Bank, ICICI Ventures has a robust track record, having made over 100 investments since its establishment in 2002. The firm has rolled out five PE funds under the banner of India Advantage Fund and counts companies like Zopper, Team Lease, and India1 Payments Limited among its portfolio.

Kapoor’s career pivot coincides with a trend of high-profile departures from VC firms in India. Recently, Aviral Bhatnagar announced his exit from Venture Highway, while Piyush Gupta revealed his impending departure from Peak XV Partners by the end of the month. This dynamic landscape underscores the fluidity and competitive nature of the VC industry, where talent movements can significantly impact the market.

In summary, Tej Kapoor’s transition from IvyCap Ventures to ICICI Venture marks a significant milestone in his career trajectory. His new role presents exciting opportunities to contribute to the growth and development of promising startups, leveraging his extensive experience in the VC landscape. As Kapoor embarks on this new chapter, the evolving landscape of VC firms in India reflects the ongoing flux and dynamism inherent in the industry.