Bessemer Venture's Chandra Raises $250 Million For Hedge Fund

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.

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