Singapore-based early-stage venture capital firm, BEENEXT, on Tuesday announced that it has appointed Hero Choudhary as Managing Partner.

In a release, the firm said that Hero’s promotion from Partner to Managing Partner is part of BEENEXT’s regional plan aimed to enhance support to its portfolio and help them scale their business toward the growth stage of the startup journey, including potential IPOs in the future. BEENEXT also appointed Faiz Rahman as its new partner for Indonesia Investments, the release added.

“With new leadership having Hero as a Managing Partner, we look for more opportunities of collaboration with fellow founders, co-investors and the experts in India and across the region, and contribute to the growth of the digital economy to the Golden Age. We are committed to keep building a vibrant global community of entrepreneurs to create lasting impact and contribute to the growth of India’s startup ecosystem,” said Teruhide Sato, Founder and CEO, BEENEXT.

Since its inception in 2015, BEENEXT claims to have invested in over 80 companies in India. In 2019, BEENEXT launched its latest early-stage focused fund with a size of $110 million and using this fund, the firm has invested in companies like YAP, M1xchange, BlueSky, FleetX, Procol, Animall.in and Kitchens Centre@ in India.

“India’s startup ecosystem looks promising, and is currently ripe with opportunities. I look forward to working with the team to support our founder community and help them achieve their full potential,” added Hero Choudhary, Managing Partner, BEENEXT.