Tribe Capital appoints Vishesh Khurana, Shiprocket's co-founder, to lead its $250 million India Fund

Bengaluru, Silicon Valley venture capital giant Tribe Capital is making a strategic move to solidify its presence in the booming Indian startup ecosystem. The firm, known for its investments in innovative companies globally, has appointed Vishesh Khurana, co-founder of logistics unicorn Shiprocket, to lead its India-focused $250 million alternate investment fund (AIF).

Local Expertise for Local Growth

Tribe Capital, with a current AUM (assets under management) exceeding $1.6 billion, recognizes the importance of local knowledge and partnerships for success in the Indian market. “Expanding our reach in India necessitates a stronger local presence,” said Arjun Sethi, co-founder and chairman of Tribe Capital, in an emailed statement. “This means working with local partners and leveraging local capital resources.”

Khurana and Juneja Lead the Charge

To spearhead this initiative, Tribe Capital India has brought on board two key figures:

• Vishesh Khurana: Khurana brings invaluable experience as the co-founder of Shiprocket, a logistics technology company that has achieved unicorn status (valuation exceeding $1 billion). Shiprocket itself counts food delivery giant Zomato as an investor. Khurana's deep understanding of the Indian startup landscape will be instrumental in Tribe Capital's India venture.

• Raj Snehil Juneja: Juneja, a seasoned venture capitalist and entrepreneur, joins Khurana. With experience founding investment firms like Disruptors Capital and First Unicorn Capital, Juneja's expertise in identifying and nurturing promising startups will be a valuable asset to Tribe Capital India.

Strategic Timing for Shiprocket Funding

This announcement coincides with Shiprocket's reported advanced talks to secure $70-100 million in fresh funding. Notably, a significant portion (around 70%) of this capital raise is expected to come from Tribe Capital itself, likely through a secondary component. This secondary component suggests a focus on providing liquidity to Shiprocket's early investors.

Tribe Capital's India Play

Tribe Capital's India venture signifies the growing international interest in the country's dynamic startup ecosystem. With a growing pool of talented entrepreneurs, strong government support for innovation, and a large consumer base, India presents a compelling opportunity for venture capital firms. The appointment of Khurana and Juneja, coupled with Tribe Capital's global experience and resources, positions the firm to become a major player in the Indian venture capital landscape.