Fireside Ventures’ Cofounder & Partner Vinay Singh To Step Down

Fireside Ventures' co-founder and partner Vinay Singh is departing the investment firm after a decade-long tenure. In a statement, the firm disclosed that Singh would "transition out of the organization." The consumer-focused venture capital firm has yet to appoint Singh's replacement. Singh, speaking of his future plans, stated that he intends to delve into "agentic commerce and its implications for the future of consumption," driven by the rapid pace at which AI is transforming commerce.

"As AI reshapes commerce faster than most of us anticipated, I am eager to spend more time exploring the frontiers of agentic commerce and its implications for the future of consumption. I am thrilled for this next chapter, and profoundly thankful to the Fireside family, and to every founder and limited partner who has placed their trust in us throughout this journey," Singh expressed.

A graduate of IIM Bangalore, Singh boasts over two decades of experience, previously working at Hindustan Unilever and Bankbazaar. He co-founded car servicing platform Stepni, which was later acquired by Quikr, before co-founding Fireside Ventures alongside Kanwaljit Singh, Kannan Sitaram, and Dipanjan Basu in 2017. Over the past decade, Fireside Ventures has grown to become one of India's leading consumer-focused venture funds with over 65 startups in its portfolio.

The firm currently manages more than $650 million in assets under management across four funds. The latest development follows a wave of seasoned fund managers leaving prominent VC firms to launch their own funds, including Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma departing Peak XV Partners to establish Mettle Capital, and Anjana Sasidharan, the partner and co-head of India investments at private equity firm L Catterton, stepping down to launch Asthrum Capital.

Another trio of former Peak XV members, Shailesh Lakhani, Harshjit Sethi, and Mayank Porwal, have founded Ambition Capital and are seeking to raise $250 million for their inaugural fund.