Sequoia Capital India In Turmoil

Several reports out of India suggest a shakeup at Sequoia Capital India, where four managing directors have left to run their own fund.

K P Balaraj, Sumir Chadha, Sandeep Singhal and S K Jain hope to close a public companies fund by the end of the year and are to exit gradually from their roles at Sequoia. Chadha told the Mint that the four will remain on the boards of 20 Sequoia portfolio companies until liquidity exits.

Chadha and Balraj founded WestBridge Capital Partners in 2000 and the firm was acquired by Sequoia in 2006. WestBridge had raised two funds and was managing close to $350 million.

Sequoia manages about $1.8 billion in India, with a 2008 fund of $750 million. Sequoia has offices in Bangalore, Mumbai and New Delhi and investments in over 50 companies.

Its portfolio includes Café Coffee Day, Comviva, FirstSource and GVK Biosciences.