Early-stage venture capital firm Stellaris Venture Partners has roped in Cred’s previous head of strategy and corporate development, Mayank Jain, as a principal in its investment team.
Jain will lead investments and represent Stellaris on the boards of portfolio companies, the firm said, adding that he will focus on fintech investments.
The appointment comes at a time when Stellaris is fishing for opportunities for its second $225 million fund.
Earlier, Jain was an entrepreneur-in-residence at Stellaris. He had also worked with Practo, heading the health data and health content business lines and also led credit cards and insurance business lines in Ola.
"Stellaris is committed to building an investment team of operating professionals with deep sectoral expertise. In the past three years, our deal flow has grown 3x, and investable opportunities have grown even faster.
As we step into our next phase of growth, Mayank’s fintech expertise and experience as a founder will be invaluable to Stellaris,” Ritesh Banglani, partner at Stellaris Venture Partner, said in a statement.
Previously, Stellaris had promoted Arpit Maheshwari to principal, specifically to focus on SaaS and edtech, among other sectors.
VCCircle reported that Stellaris along with other funds is in advanced discussions with Belgium-based Sofina SA to provide exits in personal care brand Mamaearth.
Stellaris invested in 19 startups after raising its $90 million maiden fund in 2017, including online consumer brand Mamaearth, software firm Whatfix, mFine, Slintel, Loadshare and others.
Stellaris with its new fund expects to make 25-30 new investments in seed and Series A rounds of technology companies.