Vinay Singh, co-founder of Fireside Ventures, is leaving the firm after nearly a decade. On November 3, he said, "As AI reshapes commerce faster than most of us expected." He plans to explore agentic commerce. His exit follows a trend of senior partners leaving major Indian venture capital firms recently.
Vinay Singh, co-founder and partner at consumer-focused venture capital firm Fireside Ventures, is leaving the firm after nearly a decade, marking another senior-level exit from India's venture capital ecosystem. Singh, who has been with Fireside since its early days, is stepping away from the firm as the VC investment industry sees a growing churn among senior partners, with several investors choosing to start their own funds or pursue opportunities outside their existing platforms. Fireside said Singh had been involved in building the firm since its inception and had invested in businesses across categories including beauty and personal care, food and beverages, wellness and lifestyle. Singh is known to be associated with investments such as Fixxly, Ninety One, Solethreads, Samosa Singh, 10Club among others. Singh said he is quitting now as he wants to spend more time exploring "agentic commerce" and how artificial intelligence could reshape consumption. "Co-building Fireside gave me the opportunity to build the firm from its early days and work alongside some exceptional founders and teams. As AI reshapes commerce faster than most of us expected," Singh said in a statement on November 3. The departure comes at a significant point for Fireside. The firm, founded in 2017, has built a portfolio around India's consumer and D2C boom, backing companies across categories ranging from beauty and personal care to food and lifestyle. Fireside said it now has four senior partners, Kanwaljit Singh, Kannan Sitaram, Dipanjan Basu and Adarsh Menon, and a team of 12 principals and vice presidents across investing, brand building, channels, finance, HR, fundraising and ESG. Singh's exit has come in just 11 months since Fireside raised $253 million in Fund IV from ADIA, L'Oreal, Sharrp and several other limited partners (LPs). Broader VC churn Singh's exit also adds to a broader pattern playing out across India's VC industry. In June, Moneycontrol exclusively reported that India Quotient partner Gagan Goyal was stepping down from the early-stage firm after a nine-year stint. Goyal's departure came shortly after India Quotient raised its largest fund yet, a $129 million vehicle. Other senior investors have also recently moved on. L Catterton's Anjana Sasidharan left to start her own fund, while Peak XV Partners saw Shailesh Lakhani and Harshjit Sethi leave to raise a new fund together. Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma also exited Peak XV to pursue independent opportunities. At the same time, Mayank Khanduja quit Elevation Capital and joined Bessemer Venture Partners. The exits underline a shift in the venture capital business. As Indian funds become larger and more institutionalised, senior investors who helped build the ecosystem are increasingly looking at the next phase of their careers - whether that means launching independent funds, moving closer to operating businesses or pursuing newer investment themes.