Monday, 31 August 2015
Last updated 2 days 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…