Exclusive: Fireside Ventures Sees Another Key Exit, Days After Cofounder Vinay Singh

Fireside Ventures, a consumer technology-focused venture capital firm, has experienced another leadership change in the span of two weeks. Principal Prayag Mohanty has departed the firm, following the recent exit of cofounder and partner Vinay Singh. Mohanty's resignation was confirmed by Fireside Ventures in response to a query from Inc42. The company expressed gratitude for Mohanty's contributions during his tenure and wished him well in his future endeavors.

Mohanty joined Fireside Ventures in January 2020, serving as a Principal and leading the firm's early-stage investments. During his time with the company, he spearheaded several seed stage bets, including investments in Gurugram-based men's personal care brand Unbound, Noida-based Oroos Confectionery, and kids wellness startup Wellopia. Mohanty had previously spent seven years at IvyCap Ventures, making deals for listed companies such as BlueStone, BiryaniByKilo, and Vinculum.

The recent leadership change comes less than a year after Fireside Ventures finalized the close of its Fund IV, raising ₹2,265 Cr ($253 Mn) in December 2025. With Singh's exit, the firm is now led by founder and managing partner Kanwaljit Singh and cofounders Kannan Sitaram and Dipanjan Basu. The fund has attracted commitments from notable investors, including the Abu Dhabi Investment Authority (ADIA), Investment Corporation of Dubai, HarbourVest, Waterfield, and Fidelity International. As of now, Fireside’s assets under management across its four funds amount to ₹5,300 Cr ($650 Mn).