Japanese investment giant SoftBank has roped in Norwest Venture Partners’ Sumer Juneja as its country head for India, according to reports in the Indian media. He will lead SoftBank’s next set of bets in India into companies such as Delhivery, FirstCry and Grofers though there’s no official word from SoftBank yet.
His most successful investment was Swiggy
When Mr Juneja was with Norwest Venture Partners, he led the investment in the food-tech aggregator Swiggy in 2015. He also served on the board of Swiggy from the very early days of the firm’s inception. He has actively guided Swiggy’s founders Sriharsha Majety, Rahul Jaimini and Nandan Reddy to scale and raise several rounds of funding.
An experience of investment in multi-million dollar firms
Since 2009, Sumer has led investments in successful firms like Quikr, IndusInd Bank, Veritas Finance, RevX and National Stock Exchange. He has also exited investments in Yes Bank and Cholamandalam Finance. This is the reason he was promoted as Principal at Norwest in 2014 after which he became a director.
He is not an entrepreneur
While most of the investors out there are entrepreneur themselves. However, Mr Juneja is not like them. He has not been an entrepreneur but he is very strong with numbers. For example, consider the Swiggy deal which he closed amid strong competition from other investors. He himself visited Bengaluru for a weak to close the deal.
London School of Economics Graduate alumnus
Juneja graduated from London School of Economics with a bachelors degree in Government and Economics. He was there in the 2001-2004 batch. Prior to that, he studied at Eton College from 1999 to 2001
He has worked for Goldman Sachs
Prior to associating with Norwest Venture Partners, he has earlier worked with Goldman Sachs in Hong Kong and London as an investment banking analyst. He helped the firm close several merger and acquisition deals. He was the founding member of the Goldman Sach’s Asian Special Situations Group in India.
Former board member of several listed firms
He was the former board member of firms like Bharti Airtel’s sub-organization Bharti Infratel Ltd, Mumbai-based IRB Infrastructure Developers Ltd, the Gurgaon rapid metro developer IL&FS Transportation Networks Ltd, Cremica Foods Ltd and Paris-based Onmobile SA. All of them are listed companies.
He will head $100 billion fund
It is reported that Juneja will work with the team at SoftBank’s Vision Fund and report to Munish Varma, a London-based partner at SoftBank. The idea behind the $100 billion funds was to invest in late-stage technology companies. Riding on its impressive 44% Internal Rate of Return over its 18 years of existence, SoftBank was able to close $93 Bn in commitments within just seven months.