SAIF Partners ropes in former FreeCharge CEO Alok Goel as MD1 min read . Updated: 13 Jul 2015, 12:24 PM IST
In his new role, Alok Goel will be looking into SAIF's early stage investments
Private equity firm SAIF Partners on Monday named Alok Goel, former chief executive officer of online mobile recharge service provider FreeCharge, as its managing director.
In his new role, Goel will be looking into SAIF’s early stage investments.
“He brings a wealth of experience in business strategy, product, marketing, operations as well as P&L management. Having built and scaled successful Internet companies, his experience will be vital to our firm," said Ravi Adusumalli, managing partner, SAIF Partners.
Before joining FreeCharge, Goel was the chief operating officer of bus ticketing website redBus. FreeCharge and redBus were acquired by Snapdeal and Naspers, respectively.
While the terms of the deal weren’t disclosed, according to people familiar with the matter, FreeCharge was valued at roughly $450 million during the time of the deal. On the other hand, redBus was acquired by Ibibo Group, a subsidiary of South Africa-based media firm Naspers Ltd, for $135 million.
Before redBus, Alok worked at Google for five years in various roles including product management of Google Display Network. He was also heading search and mobile products in India, besides serving as product manager for search and geo local, India.
“SAIF Partners has one of the finest portfolios in the industry today. I am excited to be a part of this team and leverage my experience in internet and mobile businesses to help early-stage companies become world-class business," said Goel.
The venture capital firm has $4 billion under management.
Goel has also invested in a few startups in his individual capacity before joining SAIF including interior decor site Intruo.com and his wife’s foodtech startup Tapcibo (now rebranded as Dazo).
SAIF provides seed, early, and growth stage capital for emerging companies in India and China. It began partnering with entrepreneurs in India in 2002 and has backed over 40 companies since then including MakeMyTrip, JustDial, PayTM, BookMyShow and Urbanladder.