Early-stage venture capital firm, YourNest has announced changes to its leadership team in preparation for the launch of its forthcoming YourNest Innovative Products VC Fund III.
In a statement, the venture capital firm said that Bengaluru-based Venkat Raju, Austin-based Ranjeet Shetye and Mohit Hira from Gurugram have joined as partners.
While Ranjeet Shetye has been associated with YourNest since 2016 as an investor and has been an integral part of the startup ecosystem in the US and India for many years now, Venkat Raju is a serial entrepreneur with two successful exits in Silicon Valley and another out of Bengaluru.
Mohit Hira has been advising the firm, and some of its portfolio companies, on marketing and brand strategy since 2018.
The YourNest Innovative Products VC Fund III would be $75 million technology-focused fund which will invest in time-enhancing products developed by Indian startups for global markets.
Sunil Goyal, Managing Director, said: “We consider ourselves doubly blessed to have Venkat and Ranjeet joining us with their vast global experience and deep domain knowledge. Mohit has been an integral member of our team and, given his contributions, it was only natural that we redefine his role.”
“Our portfolio founders are sure to benefit immensely from their inputs, and they will also strengthen our third fund.”
As venture partners, they replace Satish Mugulavalli, who has co-founded RuleZero, a technology platform that automates and manages equity ownership in venture-funded startups. YourNest is partnering with RuleZero as an investor and a board member, and Satish continues to be a mentor for its startups.