Sajjan Jindal-led JSW Group’s venture capital arm, JSW Ventures, said on Monday that it has appointed Sachin Tagra as partner.
The appointment comes ahead of the venture capital firm's plan to announce the first close of its second fund, JSW Ventures said in a statement.
Tagra, who has over two decades of experience across consumer, retail and media businesses, joins JSW Ventures from Network18 Group, where he headed investments at group’s venture investment arm Capital18.
Previously, he worked at Brand Capital, the strategic investment arm of the Bennett, Coleman & Co. Ltd, where he was involved in driving early-stage investments.
Gaurav Sachdeva, managing partner, at JSW Ventures, said Tagra has been an angel investor himself and also mentor start-ups at various incubators and accelerators. “We believe his specific expertise will enable us to deliver greater value to our investee companies,” he added.
JSW Ventures' first fund, which was launched in 2015 with an initial corpus of Rs 100 crore ($15 million), was entirely seeded by the Jindal family.
The venture capital firm was seeking to raise its second fund by the end of 2018, the Mint reported citing Sachdeva in December 2017. Sachdeva had said the second fund will be substantially larger, but the focus will continue to remain on high-growth, technology-enabled companies. He did not specify the target amount.
JSW Ventures invested in the bridge round of funding of interior design solutions marketplace HomeLane earlier in February.
Its other investments include LimeTray, an online platform that helps restaurants run their day-to-day operations, OSLabs Technology India Pvt. Ltd, which runs smartphone operating system Indus OS, and Manash Lifestyle Pvt. Ltd, which operates beauty products and services marketplace Purplle.com.