Fireside Ventures Cofounder Vinay Singh to Step Down After Nine Years
Vinay Singh, cofounder and partner at India's consumer-focused VC firm Fireside Ventures, is leaving after nearly a decade to explore agentic commerce.
Vinay Singh, cofounder and partner at Fireside Ventures, is stepping down from the consumer-focused venture capital firm after a stint of nearly a decade. In a statement, the firm said Singh would "transition out of the firm". It has not yet named a successor.
Singh said he now plans to explore the "frontiers of agentic commerce and its implications for the future of consumption". According to him, AI is reshaping commerce faster than most people expected. He added that he was deeply grateful to the Fireside family and to every founder and limited partner who trusted the firm.
Background
An alumnus of IIM Bangalore, Singh has nearly two decades of experience. He worked at Hindustan Unilever and Bankbazaar, and earlier cofounded the car servicing platform Stepni, which Quikr later acquired. In 2017 he cofounded Fireside Ventures with Kanwaljit Singh, Kannan Sitaram and Dipanjan Basu.
Fireside has since become one of India's biggest consumer-focused venture funds. It counts more than 65 startups in its portfolio and says it manages over $650 million across four funds. It closed its fourth fund at about $253 million in December last year, and its team currently comprises 12 principals and vice presidents.
A wider pattern
The exit comes as several seasoned fund managers leave large firms to start their own vehicles. Earlier this year, Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma quit Peak XV Partners to found Mettle Capital. In March, Anjana Sasidharan, partner and co-head of India investments at L Catterton, left to set up Asthrum Capital. Another former Peak XV trio, Shailesh Lakhani, Harshjit Sethi and Mayank Porwal, launched Ambition Capital and is looking to raise $250 million for its first fund.
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