Tarun Davda, managing director at Z47 ( formerly Matrix Partners India ), is set to leave the venture capital firm later this year after having been a key member of the partnership at the fund for a decade, people aware of the development told ET.
Davda, who has backed companies like Ola, software-as-a-service platform MoEngage, business-to-business (B2B) seafood startup Captain Fresh, joined Z47 almost 15 years ago to focus on early-stage consumer technology and software investments.
People in the know said, Davda has informed Z47 of his plans to exit the firm, and he will likely leave by the end of this year. Sources close to the development said that he was not evaluating and closing new investments for a year now and was focussed on Z47’s fundraising.
The likely exit of Davda, who was elevated to partner at the fund along with Vikram Vaidyanathan in 2016, adds to the broader churn at Z47, mirroring the continued top-level churn across the Indian venture capital industry in recent years.
