Nayar is partnering with Peak Ventures – an early-stage firm focused on cleantech areas such as new energy, food systems, clean water and climate. Under the new arrangement, Nayar would become a general partner at the Mumbai-based firm.
Peak Ventures’ first investment fund of about $150 million is expected to accelerate the fundraising process following Nayar’s onboarding, managing partner Samir Shah told ET. The firm has received approval from the Securities and Exchange Board of India (Sebi) to induct Nayar as a general partner.
Both SIDBI and Self Reliant India (SRI) Fund, owned by NSIC Venture Capital Fund Limited (NVCFL), a 100% subsidiary of The National Small Industries Corporation Limited, will invest about Rs 300 crore into Sorin
After unsuccessfully pushing for the reinstatement of Sam Altman as OpenAI CEO, Satya Nadella roped him in to lead Microsofts new advanced artificial intelligence (AI) research team.