Sistema Asia Fund Advisory, the venture capital fund floated by Russian conglomerate Sistema PJSFC, has brought in Sumit Jain as a senior partner, a statement from the fund stated. Jain was earlier with venture capital firm Kalaari Capital as a senior partner.
An alumnus of IIM Calcutta and IIT Kharagpur, Jain joined Kalaari Capital in 2009. He was involved in sourcing and executing seven investments and supported three exits.
He has served on the boards of over 15 portfolio companies.
Sistema Asia Fund Advisory was set up in late 2015 with a $40 million commitment from Russian conglomerate Sistema PJSFC. It has doubled its commitment to the fund to $80 million and is seeking to raise another $40 million from external investors. The fund focuses on growth-stage and mid-stage technology companies.