Sunil Gurbaxani, former CEO and managing director of Dhanlaxmi Bank, has joined 35 North Ventures, the sponsor of India Discovery Fund, India’s largest SEBI-approved angel fund with a fund size of $100 million – on its board. as an operating partner.
Gurbaxani is a Banker with over three decades of experience across geographies. He started his journey with SBBJ (now SBI) and moved to Axis Bank where he held various leadership roles.
35North Ventures is able to leverage the expertise of its key board members to deliver immense value to its portfolio companies. It also inducted Avtar Monga, former CEO of IDFC First Bank and former Bank of America executive, to its board this year.
On his new addition to the team, Milan Sharma, Partner, 35 North Venture said, “We are delighted to welcome Sunil to the 35 North Venture family. His leadership appointments are strategically aligned with our aim to strengthen human capital within the company. We are deeply connected and have people with the right skills and experience to help us reach the next level of development.”
Ashwani Singh, Managing Partner, 35 North Ventures said, “Sunil’s rich experience will be extremely valuable to our partners, and we look forward to them identifying the next set of new investment opportunities.”
Established in 2021, India Discovery Fund invests in asset-light business models that are tech-enabled and have high potential to grow rapidly. The fund seeks to provide growth capital to help build solutions that will revolutionize the Indian market with bold and disruptive ideas.
The current investment portfolio comprises companies from various industries such as edtech, fashion fintech, military tech, food and beverages.
Talking about the new role, Gurbaxani said, “The goal will be to align with the vision that Ashwini and the team have created to identify the right set of companies that will blend creativity, technology, data and culture to create a truly unique Creating solutions. Unlocking value for Young India and our partners.”
The fund has also recently invested in emerging startups such as CloudTailor, SpeEdLabs, Dhybrid, Stupa Analytics and more. CloudTailor is a D2C platform that is organizing the personalized fashion and tailoring industry through its digital platform.
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