Google Holdings-backed Indian venture capital firm, VenturEast has announced the appointment of Sateesh Andra as managing partner for its seed-stage technology-focused VenturEast Tenet Fund. Andra has been leading Draper Fisher Jurvetson (DFJ) investments in India over the last five years.
Andra will lead the charge in helping portfolio companies scale from local to global markets by providing strategic counsel for global customer and partner acquisition. He will help create a Valley-like incubation ecosystem and help companies tap into global VC funding.
The fund is launching at $10M and Andra is targeting a corpus of $50 million for the next fund.
Investors of VenturEast include global and Indian institutions like Lemelson Foundation, Proactive Fund, SIDBI Venture Capital Limited and Technology Development Board.
Sponsored by Ventureast, the Tenet Fund is promoted by the Tenet Group of IIT Chennai, which is spearheaded by Ashok Jhunjhunwala, academician and startup evangelist.
“We are excited to bring Andra in this role. There could not be a better fit or timing,” said Sarath Naru, Founder and Managing Partner, Ventureast.
