Singh, former managing director at Alpha Wave Global (previously known as Falcon Edge), will be responsible for growth-stage B2B investments and overall management of the fund as a general partner.
Mohan Kumar, managing partner at Avataar Venture Partners, confirmed the development to ET.
“B2B marketplaces, edtech, logistics, agriculture, healthcare and education are what we are looking at right now but we will also look at other spaces as they emerge,” he said.
During his stint at the New York-headquartered investments company, Singh was responsible for early- to late-stage investments across India and South East Asia. He has also worked at venture capital firms B Capital and Norwest Venture Partners.
“Having worked closely with Mohan for more than a decade at Norwest Venture Partners and otherwise, I see a natural alignment in our vision for Avataar Venture Partners as an investment platform as well as one to support entrepreneurs operationally,” Singh said.
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In October, Avatar Venture Partners launched its latest fund with a target size of $350 million to focus on global SaaS and B2B technology companies. The Bengaluru-based firm has already started investing from its new fund and is in discussions with several companies raising their early growth rounds, including Series C and beyond.
“Avataar is built to last for a few decades and part of the plan was to, at every point, have new partners or new skill strengths they bring in. This was actually part of the original plan. We planned to have a third partner by the time we were in the second fund,” Kumar said.
Avataar’s portfolio includes media software unicorn Amagi, travel and hospitality software maker RateGain, and SaaS unicorn for wellness industry Zenoti, among others. It has so far invested in 11 companies, including some that are yet to be disclosed.
It typically invests $10 million to $50 million in companies with $10 million or more in annual recurring revenue. In October, Kumar
told ET that Avataar Venture Partners expects about seven of the companies it backed with its first fund to file for public listings by October 2024.
The comment came at a time when global technology stocks had taken severe beatings thanks to inflationary pressures and high interest rates.
Singh, former managing director at Alpha Wave Global (previously known as Falcon Edge), will be responsible for growth-stage B2B investments and overall management of the fund as a general partner.
Mohan Kumar, managing partner at Avataar Venture Partners, confirmed the development to ET.
“B2B marketplaces, edtech, logistics, agriculture, healthcare and education are what we are looking at right now but we will also look at other spaces as they emerge,” he said.
During his stint at the New York-headquartered investments company, Singh was responsible for early- to late-stage investments across India and South East Asia. He has also worked at venture capital firms B Capital and Norwest Venture Partners.
“Having worked closely with Mohan for more than a decade at Norwest Venture Partners and otherwise, I see a natural alignment in our vision for Avataar Venture Partners as an investment platform as well as one to support entrepreneurs operationally,” Singh said.
Discover the stories of your interest
In October, Avatar Venture Partners launched its latest fund with a target size of $350 million to focus on global SaaS and B2B technology companies. The Bengaluru-based firm has already started investing from its new fund and is in discussions with several companies raising their early growth rounds, including Series C and beyond.
“Avataar is built to last for a few decades and part of the plan was to, at every point, have new partners or new skill strengths they bring in. This was actually part of the original plan. We planned to have a third partner by the time we were in the second fund,” Kumar said.
Avataar’s portfolio includes media software unicorn Amagi, travel and hospitality software maker RateGain, and SaaS unicorn for wellness industry Zenoti, among others. It has so far invested in 11 companies, including some that are yet to be disclosed.
It typically invests $10 million to $50 million in companies with $10 million or more in annual recurring revenue. In October, Kumar
told ET that Avataar Venture Partners expects about seven of the companies it backed with its first fund to file for public listings by October 2024.
The comment came at a time when global technology stocks had taken severe beatings thanks to inflationary pressures and high interest rates.