Chirag Chotalia, who spent eight years as a partner at Threshold Ventures investing in software startups, is prepping his own VC fund, according to a new SEC filing.
Chotalia joins a growing cohort of VCs who have left bigger, established firms to establish their own investment shops.
Details of Chotalia’s Envoy Fund, including its investment strategy and capital-raising goal, remain under wraps.
As a partner at Threshold, formerly known as DFJ Venture, Chotalia led deals in startups including Sidekick, AutoLeap and Divvy Homes, according to PitchBook data.
While the largest firms continue to attract a growing portion of capital from limited partners, there’s at least a marginal comeback for emerging managers, according to PitchBook data. Emerging managers globally have so far this year brought in 39% of all LP commitments, and over 29% for all of 2024.
Chotalia has also spent time at Pritzker Group and CVC Capital Partners. He did not return requests for comment.
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