Wednesday, 28 January 2015
Last updated 38 min ago
Jul 31 2012 | 11:54am ET
Venture capital veteran Rob Chandra has put one foot into the hedge fund world with a planned $250 million launch.
Bessemer Venture Partners' former India chief has founded Avid Park. The new long/short hedge fund is already closed to investors after having won $250 million in commitments, and will focus on technology stocks, a staple of Chandra's portfolios. Bessemer has invested in LinkedIn, Pinterest and Yelp.
While he's set to run his own hedge fund, Chandra isn't leaving Bessemer behind entirely. He plans to retain a part-time position at the firm, at least for the new few years, Reuters reports.
Chandra had led Bessemer's India investments until recently and helped the firm raise its $1.6 billion fund last year.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…