Piyush Gupta Starts Kenro Capital Focused On Secondary Transactions In India and Southeast Asia

Piyush Gupta, the former managing director of Peak XV Partners (formerly Sequoia Capital), has started a new investment firm, Kenro Capital. The firm will focus on secondary transactions, where shares are exchanged between investors without the infusion of new capital or issuance of additional shares.

Kenro Capital, co-founded by Gupta and Norbert Fernandes, a seasoned private equity professional, aims to target growth companies in India and Southeast Asia. The firm has raised an undisclosed amount and is domiciled in Singapore. It plans to invest between $20-30 million in secondary transactions, focusing on acquiring minority stakes in businesses with strong revenue growth, profitability or near-profitability, and a clear path to public listing within 2-3 years.

This move follows Gupta's exit from Peak XV Partners seven months ago, after joining the venture capital firm in 2017. His prior experience includes over a decade at Morgan Stanley and Deutsche Bank. Kenro Capital's focus on secondary deals aligns with a growing trend in the market, with other firms like Oister Global and Tribe Capital India also launching similar funds to target the Indian market.