Early-stage venture capital firm August Capital Partners has added Mohan Krishna Reddy, former CFO of AppLabs Technologies, as a venture partner. Reddy, who has over 35 years of financial management experience, will advise August Capital on specific transactions and source deals, said August Capital managing partner Sameer Narula.
August Capital is raising $25 million for its maiden fund which will look to invest in start-ups tapping India’s consumption story. It will look to invest between $500,000 and $2 million in each company. August Capital also plans to add another venture partner.
Reddy is also one of the senior founding member of the Hyderabad Angels Network, which will also help August Capital source deals. His strong transactional experience will also help the VC firm in executing its exit strategy, which will mostly be through secondaries and M&A deals.
Reddy has over three decades in senior level managerial positions, which includes as CFO of private equity backed companies like Applabs (software testing) and Infotech Enterprises (engineering design and geospatial services). AppLabs, backed by WestBridge Capital, was sold to NYSE-listed Computer Sciences Corporation (CSC) in September last year.
Before this, Reddy was senior vice president of JM Morgan Stanley and has held various positions with ANZ Grindlays Bank, Unit Trust of India and Indian Bank.