Puneet Kumar, former visiting group partner at Y Combinator, has transitioned to venture partner at Nexus Venture Partners, a leading venture capital (VC) firm, marking a significant move in the startup investment landscape.
Career Transition
Kumar announced his new role in a LinkedIn post, expressing his excitement to contribute to the startup ecosystem through Nexus VP. With experience in building startups and global investments through Y Combinator, Kumar looks forward to collaborating with and learning from the next generation of entrepreneurs.
Background
Prior to his stint at Y Combinator, Kumar served as founder and CEO of SuprDaily, a grocery startup, for six years from 2015 to 2021. Under his leadership, SuprDaily achieved notable success, reaching an annual revenue run rate (ARR) of $100 Mn before being acquired by Swiggy in 2019 and rebranded as InsanelyGood.
Nexus Venture Partners
Kumar’s transition coincides with the departure of Sameer Brij Verma, managing director at Nexus Venture Partners, who is leaving to establish his own investment fund. Founded in 2006 by Naren Gupta, Sandeep Singhal, and Suvir Sujan, Nexus Venture Partners focuses on tech-enabled startups in the US and India, boasting $2.6 Bn of capital under management. The firm’s portfolio includes successful investments in companies like Unacademy, Hasura, Postman, Turtlemint, and Apollo.io.
Industry Dynamics
Kumar’s move to Nexus Venture Partners aligns with a broader trend of leadership changes in Indian VC firms. Tej Kapoor from IvyCap Ventures recently joined ICICI Venture, while Aviral Bhatnagar of Venture Highway and Piyush Gupta of Peak XV Partners are also embarking on new ventures.
