World funding agency Steadview Capital has appointed Maneesh Menon as its India director, marking a senior management addition because the hedge fund expands its presence within the nation.

The transfer follows the departure of Puneet Kumar, who left the agency in October and later joined Mirae Asset Enterprise Investments as India chief government.

Steadview confirmed Menon’s appointment, stating, “Maneesh will likely be becoming a member of as a senior member within the investments workforce. Along with Maneesh, Himanshu Jain has lately joined us as principal from Vertex Ventures.”

Menon joins from Constancy-backed Eight Roads Ventures, the place he was a principal main investments throughout software program, enterprise, shopper and fintech sectors. He had joined Eight Roads in 2020 from Bain Capital and labored with portfolio corporations together with AssetPlus, Wint Wealth and SaaS Labs.

The agency has additionally lately employed Himanshu Jain, who joined in January from Vertex Ventures.

Steadview, which manages greater than $3 billion in belongings globally, invests in each private and non-private know-how corporations. Its portfolio contains corporations resembling Zomato, Nykaa, Freshworks, Delhivery, Lenskart and Innovaccer. It additionally lately participated within the $54 million seed spherical of Deepinder Goyal’s health-focused wearable startup Temple.

Menon’s appointment comes amid a broader wave of senior-level exits and reshuffles throughout India’s enterprise capital ecosystem. In current months, a number of funding professionals have moved corporations or launched new funds, reflecting elevated competitors and evolving methods available in the market.

Throughout Kumar’s tenure, Steadview backed greater than 30 non-public corporations and noticed 9 of its portfolio corporations go public.

In the meantime, Eight Roads Ventures has additionally seen management modifications, together with the departure of one other principal, Kavish Kothari, who joined Elev8 Enterprise Companions earlier this yr.