Vishesh Khurana: Shiprocket’s cofounder to lead Tribe Capital’s first India fund

Silicon Valley venture capital firm Tribe Capital, which last year announced plans of setting up a $250 million India-specific alternate investment fund (AIF) has roped in a founder from its own portfolio to head this foray.

The $1.6 billion fund has hired Vishesh Khurana, co-founder of Shiprocket, a logistics technology unicorn that also counts Zomato as its investor. “Expanding our investment footprint in the region entails a stronger local presence, which means more local partners and capital resources,” Arjun Sethi, co-founder and chairman at Tribe Capital said in an email.

“To spearhead this initiative, Vishesh Khurana and Raj Snehil Juneja have joined Tribe Capital India, leading our India-focused endeavors alongside myself.”

Juneja, who will work with Khurana, is a venture capital investor and founder of investment firms such as Disruptors Capital and First Unicorn Capital. The development comes at a time when Shiprocket is in advanced talks to raise $70-100 million with a majority of the capital expected to come from Tribe Capital.

According to sources, the current round of funding will have around 70% of secondary component to give exit to early investors.