Ketki Paranjpe joins Sixth Sense Ventures as partner

Mumbai: Domestic venture capital fund Sixth Sense Ventures has appointed Ketki Paranjpe as partner (investments), the fund said on Thursday.

With more than 15 years of experience, Paranjpe joins Sixth Sense from L Catterton, a global consumer-focused private equity firm.

In her new role, she will focus on driving investments in disruptive consumer companies in high potential categories, the release said.

Founded in 2014 by former IDFC Securities executive Nikhil Vora, Sixth Sense is one of the oldest rupee capital funds focused on investing in consumer-centric businesses coming out of India. The firm is in the process of raising a Rs 1,600 crore third fund, one of the largest rupee capital equity funds in India.

“Paranjpe adds a new dimension to our offering and augments our proposition. We look forward to leveraging her expertise as we further execute our strategy of backing first generation entrepreneurs with businesses that disrupt the status quo and address consumer needs more efficiently,” Nikhil Vora, founder and chief executive office of Sixth Sense Ventures said.

“Entrepreneurship is on the rise in India and there are many gems to be uncovered and polished,” said Paranjpe. “Growing in the private equity space with L Catterton over the past decade has been an honour, and I am grateful for the support the firm has given me as I embark on this new journey.”

Amidst the funding frenzy that the Indian market has seen on the back of flush of liquidity in the system, hiring at private equity (PE) and venture capital (VC) funds have been at an all-time high in the last six months as these companies, which usually work with a lean structure, are expanding their talent pool to appropriately support their investments.

There were about 135 senior-level moves in PEs and VCs in the last six months, up 30% from the same period a year ago, ET
reported in August. This number is significant as there are hardly a little over 1,500 professionals working in the PE and VC space currently in India. Avataar Ventures, Iron Pillar, LeapFrog Investments, Lightspeed, WestBridge Capital, Everstone, ChrysCapital, Matrix Partners, TrueNorth, among others, beefed up their teams.

The funds are adding talent to their investments team and hiring professionals with a mix of startup and consulting experience.