Z47's Managing Director Tarun Davda to Depart Amid Industry Shakeup
Z47 managing director Tarun Davda to exit firm amid string of top-level departures at VC funds
Image: The Economic Times
Tarun Davda, managing director at Z47, will exit the venture capital firm by year-end after nearly 15 years. His departure follows a trend of senior exits in the Indian VC sector, with Z47 seeking to raise a new fund between $350-400 million.
- 01Tarun Davda has been with Z47 for almost 15 years and was elevated to partner in 2016.
- 02Davda's exit adds to a series of senior departures at Z47, including Pranay Desai and Sudipto Sannigrahi.
- 03Z47 is currently in discussions to raise a new fund of $350-400 million, its first since separating from Matrix Partners.
- 04Davda has previously invested in successful companies like Ola and MoEngage, contributing to significant returns for Z47.
- 05The Indian venture capital industry has seen a notable turnover in leadership, with several firms experiencing similar departures.
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Tarun Davda, managing director at Z47 (formerly Matrix Partners India), is set to leave the firm by the end of this year after nearly 15 years of service. His departure is part of a broader trend of senior exits within the Indian venture capital sector, which has seen a series of top-level changes recently. Davda has been instrumental in backing successful startups such as Ola and MoEngage, helping Z47 achieve significant returns, including over $150 million from secondary transactions. Currently, Z47 is in discussions with limited partners to raise a new fund estimated between $350-400 million, marking its first independent venture since its split from Matrix Partners two years ago. This follows a string of departures from Z47, including Pranay Desai and Sudipto Sannigrahi, as well as other firms like Peak XV Partners, which has also seen key managing directors leave to establish new investment firms. Z47's previous fund closed in 2023 at $550 million, and the firm is navigating a challenging landscape as it seeks to bolster its investment capabilities amid leadership transitions.
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Davda's exit may affect Z47's investment strategy and fundraising efforts, potentially influencing the startup ecosystem in India.
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