Piyush Gupta, Founder and Managing Partner of Kenro Capital
Piyush Gupta, the former managing director of Peak XV Partners (formerly Sequoia Capital), has started a new investment firm, Kenro Capital. The firm will specialise in secondary transactions, facilitating the exchange of shares between investors without introducing new capital or issuing additional shares.
Kenro Capital, co-founded by Gupta and Norbert Fernandes, a seasoned private equity professional with experience at Temasek, IvyCap Ventures, and TR Capital, aims to target growth companies in India and Southeast Asia.
The firm plans to deploy US$20-30 million per investment, with flexibility for larger amounts through co-investment opportunities.
Kenro Capital aims to acquire minority stakes in growth-stage companies across diverse sectors that have achieved revenue scale, are profitable or nearing profitability, and possess key attributes positioning them for a potential public listing within 2 to 3 years of investment.
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Leveraging its industry expertise and strong relationships with founders and venture capital funds, the firm provides liquidity solutions to stakeholders in late-stage, venture-backed companies.
Gupta highlighted a secondary market opportunity exceeding US$100 billion in India from venture-backed companies, noting that 2023 recorded a milestone US$13.5 billion in secondary transactions, up from US$9.1 billion in 2022.
“We are bridging a critical gap in the market to provide liquidity solutions to stakeholders. With impressive growth in venture capital in India and Southeast Asia over the past 15 years, VCs are focused on increasing the pace of distributions to their limited partners and that’s where Kenro Capital will play a key role,” said Gupta.
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Image credit: Piyush Gupta
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