Premji Invest saw three long-term partners leave this year

Azim Premji's private investment arm, Premji Invest, has seen the exit of three of its four long-term partners this year, with the most recent being the resignation of Rajesh Ramaiah in August after a 13-year-long stint with the Bengaluru-based firm.

Rahul Garg, who led investments across banking and financial services including insurance, payments as well as in the consumer and retail sectors, and Atul Gupta, who oversaw growth investments in the enterprise and consumer technology, education, healthcare and business services sectors had both left in early 2023.

While Garg had put in a 12-year stint at the firm, Gupta had been with Premji Invest since 2008. All three partners who have exited will continue to have an advisory engagement with the firm. Also, a cooling off period up to one year precludes them from taking up any other work commitments, according to four people who spoke to ET on the condition of anonymity.

Subsequent to the exits, the investment firm promoted its chief financial officer and operating partner, Manoj Jaiswal, as well as principal Saravanan Nattanmai as partners. It also hired former Amazon executive Kaveesh Chawla as a partner in June. Chawla had earlier put in a stint at Korean ecommerce firm Coupang.

Confirming the exits of three partners in the course of past six to eight months, a representative for Premji Invest said, "This is because each of the partners completed approximately 12-15 years, closed three funds and have different aspirations in their personal journey."