Prime Venture Partners Appoints Alok Garodia as Chief Financial Officer

Prime Venture Partners, an early-stage India focussed VC fund right this moment introduced the appointment of former Nike and Lenovo India CFO, Alok Garodia, as Chief Financial Officer (CFO), taking on from Tulsi Swamy. Alok can be answerable for all elements of Fund Finances, Operations, Investor Reporting, Compliance, Legal and Tax issues. Alok joins the Prime management crew as it expands its funding and operations for the following part of progress. Given his working experience throughout various industries, Alok may even interact, assist and advise portfolio corporations in constructing a powerful monetary and working spine.

A Chartered Accountant, Alok joins Prime with nearly 25 years’ of expertise working as CFO and different Finance Leadership roles with world corporations together with Lenovo, Nike, Nokia, and Pepsico. He has spent a number of years working in India and Asia Pacific. Alok brings with him deep working and business finance expertise of FMCG, Retail, Telecom and IT sectors and is keen about progress, constructing groups, sustainable processes, and creating worth. He has additionally been energetic within the startup ecosystem and is an angel investor/advisor to a number of early stage startups in Fintech, Social Commerce and SaaS sectors.

Tulsi Swamy, the previous CFO who has been a part of Prime’s journey since its inception, can be stepping again from each day actions, whereas being engaged with the agency as an advisor. She plans to focus her time and efforts in direction of tasks in sustainability and enterprise philanthropy. Tulsi has performed a pivotal position within the evolution of Prime and its portfolio over the past decade. Her deep understanding of all elements of enterprise capital, from fund accounting to regulatory frameworks to firm constructions have helped inform the fund via quite a few strategic decisions and the portfolio corporations via their very own fund increase cycles.

 

Currently investing out of its USD 120 million Fund IV, Prime is often the primary institutional investor in startups and focuses on corporations with an progressive method to fixing basic issues via expertise. Prime’s mission is to accomplice early with entrepreneurs and assist construct world-class expertise corporations which are addressing a few of India’s most necessary issues. Prime’s distinguished Limited Partners embody International Finance Corporation (IFC), a part of the World Bank Group, a top-tier University endowment, world household places of work and establishments, and quite a few world expertise entrepreneurs. Prime’s portfolio of greater than 40 corporations consists of startups such as Quizizz, Niyo, MyGate, WheelsEye, OTO, Sunstone, PlanetSpark, Bolt and Dozee. Several of Prime’s portfolio corporations have featured in excessive profile exits, together with Perpule to Amazon, Recko to Stripe, Happay to Cred and Ezetap to Razorpay. Additionally, the agency additionally delivered a greater than 4X return to all LPs of Fund 1 in lower than 9 years in a secondary transaction by Foundation PE.

 

Supporting Quotes:

 

Alok Garodia, Chief Financial Officer, Priven Advisors LLP (Prime Venture Partners)

“I’m thrilled to join Prime VP and can’t think of a bigger opportunity to be part of the venture capital and startup ecosystem. I have been closely following the evolution of startups in India over the last few years and am excited about the potential it holds. One of the things that drew me to Prime was its investment philosophy, first principles thinking, and the opportunity to work closely with the portfolio companies. The road ahead is full of opportunities and I look forward to being a part of building world-class companies backed by Prime VP.”

 

Shripati Acharya, Managing Partner, Priven Advisors LLP (Prime Venture Partners)

“We are delighted to welcome Alok to Prime. Alok brings in a wealth of experience in finance with deep operational experience across a range of industries in some of the most well known global brands. His experience will further add to Prime’s ability to closely work and support our portfolio companies across a range of functional areas. The next five years will see more investments and more global companies emerge out of India and we couldn’t be more excited to be part of this evolution. We’re also thankful to Tulsi for her work in setting up the finance function at Prime, and wish her the best in new endeavors.”