SoftBank Vision Fund’s managing partner and India head Sumer Juneja has been entrusted with additional responsibilities to oversee Europe, Middle East, and Africa (EMEA) markets, according to reports.
Juneja will report to Rajeev Misra, who is currently transitioning out of his role as the technology fund’s chief executive (CEO). Misra will remain the chief executive of Vision Fund 1.
Juneja, who was elevated as a managing partner in the fund last year, will continue to lead the India operations of the Vision Fund – one of the country’s largest investors in new-age technology companies such as Delhivery, Swiggy, and Meesho, among others.
Juneja joined SoftBank in 2018 as partner and head of India and has since led investments in Swiggy, Meesho, and edtech firm Eruditus. Before joining SoftBank, he was at Norwest Venture Partners, where he was a director at the US-headquartered venture capital’s India office.
Narendra Rathi and Sarthak Misra – who were promoted as investment directors earlier this year – will assist Juneja in driving India, said a person in the know of the development.
Europe is among the Vision Fund’s largest markets with companies such as buy now pay later (BNPL) venture Klarna, robotics firm AutoStore, and British fintech Revolut being a part of its portfolio.
Recently, the valuation of Sweden’s Klarna was cut to $6.7 billion from $46 billion, one of the highly-priced startups seeing its valuations plummet amid the funding downturn and ongoing tech winter.
In July, SoftBank founder Masayoshi Son said Misra, the chief executive officer, SB Investment Advisers, which manages SoftBank Vision Fund, will step down from his executive role in a major rejig at the conglomerate.
Son said he will transition from his current role and take on the responsibility as a vice-chairman.
