Tej Kapoor has departed from Fosun RZ Capital, the venture capital vehicle for China-based conglomerate Fosun, and joined India-based venture capital firm IvyCap Ventures as managing partner.
Kapoor had spent more than six years at Fosun RZ Capital, first as managing director and head from 2016 before being promoted to India and Southeast Asia-focused co-executive president two and a half years later. Fosun additionally named Kapoor a global partner in January 2022.
Formed in 2013, Fosun RZ Capital invests in technology and new commerce companies globally. Some of its Indian investments included logistics group Delhivery and Ixigo, which runs a digital travel platform.
IvyCap Ventures has some 60 portfolio companies with its most recent investment being the Indian petcare app operator, Wagr, which raised $527,000 in April 2022.
Kapoor will help IvyCap Ventures identify innovative companies in sectors such as fintech, consumertech, web 3.0 and gaming, in addition to helping the firm expand internationally.
Concerning Kapoor’s new role, IvyCap Ventures founder and managing partner Vikram Gupta was quoted by VCCircle as saying: “His knowledge, global perspective and ability to help founders scale business will help in strengthening the IvyCap Ventures portfolio and thereby adding unprecedented value to the entire ecosystem.”