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India Quotient’s general partner Gagan Goyal has reportedly planned to step away from his role and informed the early-stage focused VC firm a week ago regarding his exit.

“He is likely to either start a new venture or work with startups as an advisor,” the ET reported citing sources familiar with the matter.

Inc42 has reached out to India Quotient for comments on the development. The story will be updated based on their response.

Goyal has been general partner with India Quotient since 2017. Prior to which, he founded ThinkLABS Technosolutions along with Gaurav Chaturvedi in 2006, and was with the company for over a decade. Notably, he started his career in 2004, as an engineer with Hindustan Petroleum Corporation.

Goyal’s exit comes months after India Quotient announced the expansion of its leadership team. In this, vice president Sahil Makkar and ex-Upside AI cofounder Kanika Agarrwal have been appointed as new partners at the VC firm.

The VC firm closed its fifth fund (Fund V) with an investment of $129 Mn (₹1,132 Cr) in October last year, making it the largest fund launched by India Quotient. With the fund, India Quotient was set to back pre-seed, seed stage Indian startups along with investing in idea stage startups. 

Since the fund’s close, it has backed startups like Reo.Dev, HomeEssentials and General Autonomy.

Founded in 2012 by Anand Lunia and Madhukar Sinha, India Quotient is a sector-agnostic VC firm, actively investing in early stage startups across sectors like SaaS, B2B marketplaces, fintech, consumer services, social media platforms, among others.

The firm, which is an early investor in  startups like ShareChat, Sugar Cosmetics, Lendingkart and Kuku FM, has backed more than 100 startups over the last decade.

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