Four of Sequoia Capital's top management quit to pursue own venture

In one of the biggest management shake-ups in the private investing space in India, four members forming the top management at a venture capital firm Sequoia Capital have quit to set up their own enterprise.
       
"Sumir Chadha, KP Balaraj, SK Jain and Sandeep Singhal have resigned to form a firm devoted to public market investing in India," a statement from Sequoia, which has $1.4-billion dollars in 60 investments in the country, said.
       
Their exits come at a time when speculation is rife that private investing in India has lost out to China where valuations of firms are lower.
       
Post-the resignations, a new team comprising of Abhay Pandey, GV Ravishankar, Mohit Bhatnagar, Shailendra Singh and VT Bharadwaj have been entrusted with the responsibility of running the firm's business in India, it said.       

The officials who have resigned were at Sequoia for five-years and will continue to represent it on the boards of a variety of private and public investee companies, it said.
       
Chadha and Balaraj founded a firm called WestBridge Capital Partners in the year 2000 when venture capital investing in the country was at a nascent stage and were joined by Jain and Singhal in a year's time.
       
For the last five-years, WestBridge had been operating as Sequoia Capital, it said.
       
The four are reportedly considering to revive WestBridge and plan to be up and running with a fund by the end of 2011 to invest in the more profitable private investment in public enterprises (PIPE) deals.
       
Sequoia, a global firm, invests in venture, growth and late-stage opportunities and has invested in multiple sectors into companies like SKS Microfinance, Idea Cellular, Cafe Coffee Day and FirstSource, among others.