TLDR:
– Sandeep Bapat appointed as co-chief investment officer at Singularity Growth, focusing on key sectors
– His experience at Trifecta Capital, Harvard, and involvement in various investments adds value to the team amidst VC departures in India
Private equity firm Singularity Growth has appointed Sandeep Bapat as its new co-chief investment officer and senior partner following his resignation from venture debt fund Trifecta Capital. Bapat, an alumnus of Harvard Business School and IIT Bombay, held positions as a partner at Trifecta Capital’s late-stage equity division and as an executive director at Hillhouse Capital. Bapat’s expertise will be integral in leading investment activities at Singularity Growth, where he will also serve as a member of the investment committee.
His appointment comes at a time of senior-level churn in the Indian venture capital industry, with senior executives from various VC firms, such as Nexus Venture Partners and Orios Venture Partners, leaving to start their own ventures. Despite India being the world’s third-largest startup ecosystem, the country has been facing a funding slowdown, with venture capital investments dropping significantly in recent years.
Singularity Growth recently closed the first round of its Rs 1,500-crore fund focused on growth-stage startups and aims to complete the second round in the next few months. The firm has already invested in companies like Mcaffeine, WebEngage, Exotel, and Lohum. Bapat’s appointment signifies the company’s commitment to investing in key sectors such as consumer brands, financial services, and energy transition, among others.
