Rajesh Ranjan, CEO of NABARD’s venture arm Nabventures Ltd has quit the VC to set up his growth-stage fund. Separately, Phonepe said it has named former Yes Bank executive Ritesh Pai as the Chief Executive Officer (CEO) of its International Payments business.
Nabventures CEO quits
Rajesh Ranjan, CEO of NABARD’s venture arm Nabventures Ltd has quit the VC firm to set up a growth-stage fund. Ranjan joined Nabventures in 2018 and was the first CEO of Nabventures Fund. The firm said Ranjan played an instrumental role in raising the first fund of Nabventures with a corpus of Rs 598 crore.
Nabventures has invested in startups such as Vilcart, Beyond Snack, Bharat Housing Network (Homeville), Jai Kisan, Eggoz, Krishitantra, Satyukt, KB Cols.
PhonePe names CEO of international payments
PhonePe said it has named former Yes Bank executive Ritesh Pai as the CEO of its international payments business. At PhonePe, he will lead the firm’s international growth and expansion plans.
In his last role, Pai was the president of products and solutions at TerraPay, where he was responsible for launching and implementing payment products and solutions globally.
Sameer Nigam, CEO and founder, PhonePe said: “We are delighted to welcome Ritesh onboard as CEO-International Payments at PhonePe. Ritesh has been an early believer and staunch supporter of the company and was very instrumental in our early UPI success story.”