We nurture Asia's startup ecosystem
Initiated by Sistema, Sistema Asia Capital is a Private Equity firm investing in India and SE Asia's rapidly emerging startup ecosystem.
Asia's startup ecosystem
We nurture
We are a fundamentally different VC firm
Our role doesn’t end at investment. In fact, that’s where it begins. We are dedicated partners in the growth of every startup we fund, every step of the way.
fundamentally
different VC firm
We are a
Born in Russia, we call Asia our home.
Having previously grown several Russian startups to industrial giants, we bring our experience and expertise to India and South-East Asia.
we call Asia our home.
Born in Russia,
We focus our energy on technology
We invest in knowledge-intensive industries and aid the development of tech innovations across sectors in India and South-East Asia.
our energy
on technology
We focus

Our DNA

Investing. Creating Value.

Established in 1993, today Sistema is a large private investor operating in Russia, CIS, Europe, USA and India. Sistema's investment portfolio comprises stakes from various sectors of economy, including telecommunications, utilities, retail, high tech, pulp and paper, pharmaceuticals, healthcare, railway transportation, agriculture, finance, mass media, tourism, etc. Sistema's competencies focus on improvement of its portfolio companies through innovation, operational excellence and attracting industry partners to enhance expertise and reduce financial risks.

Sistema is not new to the Indian ecosystem. It began its India journey in 2008 and was the first private sector conglomerate from Russia to invest in the high-growth Indian telecom sector. Since then the appetite to make success stories in Asia has only grown. We believe that a decade of experience and our existing platform in India and Singapore reinforced by Sistema’s value creation DNA and its vast business network in Asia will allow us to make another success story - a VC firm with a difference.

Our Team

Sharing Expertise. Co-leading Investment Opportunities. Diversifying Risks.

Sistema Asia Capital Pte. Ltd. (“Sistema Asia Capital”) is a Registered Fund Management Company with the Monetary Authority of Singapore. We currently manage a Private Equity fund (“Sistema Asia Fund”) sponsored and seeded by Sistema PJSFC in 2015. The fund focuses on growth stage / mid-stage technology investments in India and South East Asia.

Sistema Asia Capital is seeking participation from external qualified investors to enhance the Sistema Asia Fund to USD 120 million.

Andrey Terebenin

Andrey
Terebenin

Managing Partner,
Sistema Asia Capital (India)

Meet Andrey
Sumit Jain

Sumit
Jain

Senior Partner,
Sistema Asia Capital (India)

Meet Sumit
Dhruv Kapoor

Dhruv
Kapoor

Partner,
Sistema Asia Capital (India)

Meet Dhruv
Vivan Sehgal

Vivan
Sehgal

Director,
Sistema Asia Capital (India)

Meet Vivan
Leonid Musatov

Leonid
Musatov

Executive Director,
Sistema Asia Capital

Meet Leonid
Tejash Prajapati

Tejash
Prajapati

Executive Director,
Sistema Asia Capital

Meet Tejash
Jeremy Ang

Jeremy
Ang

Principal,
Sistema Asia Capital

Meet Jeremy
Edward Tay

Edward
Tay

Chief Executive Officer,
Sistema Asia Capital

Meet Edward
Vsevolod Rozanov

Vsevolod
Rozanov

Chairman of the investment committee, Sistema Asia Fund
Non-Executive Director, Sistema Asia Capital

Meet Vsevolod
Sergey Savchenko

Sergey
Savchenko

CEO, Sistema Asia
Non-Executive Director, Sistema Asia Capital

Meet Sergey

Our Partners

Finding Innovative Solutions. Scaling up.

We believe that anything with the potential to change the world just needs someone to believe it does.

Our multinational team with boots on the ground in India and Singapore actively engages with startup founders to drive their business forward. We have access to Scalerator, a unique consultancy set up by our colleagues in Singapore and India, to help startups scale up faster. The Scalerator team is not just helping the founders understand how to implement new initiatives but actually doing it for them.

qwikcilver seclore
licious subtra
lendingkart Netmeds
Healthifyme Faasos
Kissht Uniphore

Our Focus

Leveraging Technology. Building digital disruptors.

Sistema Asia Capital focuses on value creation in traditional and new age businesses that leverage technology. We are an early to mid-stage investor focusing on two broad themes -

Customer Tech

  • Specialized eCommerce with high margin of safety (GM, CM)
  • Travel & Transportation platforms with sticky customer base
  • Fintech and Digital Health with both tech and hybrid models
  • EdTech and New age media and content businesses
  • Online consumer brands

Enterprise Tech

  • Global enterprise applications that leverage frugal innovation culture
  • SAAS businesses that are inside sales and remote support driven
  • AI, VR and Big Data with specific use cases
  • Industrial Internet of Things (IOT)

contacts

  • Locations:

  • Singapore

    77 Ayer Rajah Crescent,
    #03-32 Singapore 139954

  • India

    Plot EP-15, Dr Jose P. Rizal Marg,
    Diplomatic Enclave, Chanakya Puri,
    New Delhi 110021

  • Media Queries & Investor Relations

    media@sistemaasiacapital.com


  • Let’s talk business:

  • Thank You!

qwikcilver

Series B round
Founded in 2007, Partnered in 2016.
Founders: Kumar Sudarsan,  Pratap TP.
Investment advisor: Andrey Terebenin.
Vision: Everything gift card.

www.qwikcilver.com
seclore

Series B round
Founded in 2009, Partnered in 2016.
Founders: Vishal Gupta, Abhijit Tannu.
Investment advisor: Sumit Jain.
Vision: Securing information wherever it goes.

www.seclore.com
licious

Series B round
Founded in 2015, Partnered in 2017.
Founders: Abhay Hanjura, Vivek Gupta.
Investment advisor: Dhruv Kapoor.
Vision: Online meat gourmet brand.

www.licious.in
subtra

Series B round
Founded in 2012, Partnered in 2017.
Founders: Samir Khandepaun.
Investment advisor: Dhruv Kapoor.
Vision: Enterprise subscription management platform.

subtra.com
LendingKart

Series C round
Founded in 2014, Partnered in 2017.
Founders: Harshvardhan Lunia, Mukul Sachan.
Investment advisor: Dhruv Kapoor.
Vision: Digital SME lending company.

www.lendingkart.com
Netmeds

Series B round
Founded in 2015, Partnered October 2017.
Founder: Pradeep Dadha.
Investment advisor: Andrey Terebenin
Vision: Netmeds is poised to take over the country’s market and become ‘India ki Pharmacy’.

https://www.netmeds.com/
Healthifyme

Series B round
Founded in 2012, Partnered February 2018.
Founder: Tushar Vashisht and Sachin Shenoy.
Investment advisor: Andrey Terebenin.
Vision: Healthy living made easy, fun and affordable.

http://healthifyme.com
Faasos

Series C round
Founded in 2011, Partnered in 2018.
Founder: Jaydeep Barman, Kallol Banerjee.
Investment advisor: Andrey Terebenin.
Vision: Multi-brand web and mobile-based cloud kitchen.

https://order.faasos.io
Kissht

Series C round
Founded in 2015, Partnered in 2018.
Founder: Krishnan Vishwanathan.
Investment advisor: Dhruv Kapoor.
Vision: EMI-based purchase and personal loans platform.

https://kissht.com
Uniphore

Series C round
Founded in 2008, Partnered in 2019.
Founders: Umesh Sachdev, Ravi Saraogi.
Investment advisor: Sumit Jain.
Vision: Redefine customer service through Conversational AI technology.

https://www.uniphore.com/

Andrey Terebenin

Managing Partner, Sistema Asia Capital (India)

Andrey is Managing Partner of Sistema Asia Capital (SA Cap) Advisory, based out of New Delhi. At SA Cap Advisory, Andrey oversees the entire investment portfolio. He serves as a Board member of Qwikcilver, Netmeds, HealthifyMe and Faasos.

Prior to the engagement to SA Cap Advisory, Andrey acted as Senior VP at Sistema head office in Moscow for four years (2011-2015). He managed portfolio of 3 direct investments of Sistema – Binnopharm, Detsky Mir and Concept Club and has also acted as their Board Member. In 2006-2011 he supervised relationships with investors of Sistema (LSE-listed), and MTS (NYSE-listed). In 2001-2006 Andrey was the Managing Director at Triangle Porter Novelli, a leading communications agency in Russia. In 1990s Andrey has played a key role in opening up Russian offices of Dun & Bradstreet and AIG and built up their businesses at an early stage.

Andrey has graduated from Moscow Institute of International Relationships. He loves diving and is fond of culture trips.

Sumit Jain

Senior Partner, Sistema Asia Capital (India)

Sumit is Senior Partner at Sistema Asia Capital (SA Cap) Advisory based out of Bangalore. He joined SA Cap Advisory from Kalaari Capital in 2018.

Sumit advises SA Cap investments in the space of enterprise software, healthcare, education, AI/data analytics, AR/VR, IOT and consumer tech. He serves as a Board member of Seclore.

Sumit brings nearly 15 years of operational, advisory and investment experience to his role. Prior to SA Cap Advisory Sumit served on the boards of 15+ portfolio companies as primary board member or observer. While at Kalaari, he was involved in raising Kalaari Fund II (US$164M) and Fund III (US$290M) including building investment thesis, capital deployment model, sector focus, due diligence and Limited Partner presentations. He also played a key role in sourcing and executing 7 investments across the 2 funds and supported 3 exits from the portfolio. Earlier, while at HSBC, Sumit advised multiple clients on cross-border and domestic M&As and JVs and was associated with capital markets and leveraged buyout transactions in his role as an Associate with the Investment Banking division. He started his career at BG Group India as a Business Analyst and worked across group companies in telecom, E&P and gas distribution.

Sumit is an alumnus of IIM Calcutta and IIT Kharagpur.

An avid fitness and sports fan, Sumit is an active traveller and enjoys adventure sports, formula1 and an occasional game of poker with friends.

Dhruv Kapoor

Partner, Sistema Asia Capital (India)

Dhruv Kapoor has been associated with Sistema Asia Capital (SA Cap) Advisory since July 2016. At SA Cap Advisory, Dhruv leads mid-stage investments in ecommerce, travel/transportation, fin-tech, media & content. Since joining the fund last year, Dhruv has led investments in Wooplr, Licious, Mobikon, LendingKart and Kissht.

Prior to joining SA Cap Advisory, Dhruv was Vice President at Helion Venture Partners, a $600M India focused fund. Dhruv joined Helion as one of its early employees in 2008 and spent the next 8 years with the fund. During his long stay at Helion, Dhruv helped source over 1000 deals across multiple sectors and stages. Some of the marquee investments that Dhruv was part of included – Azure Power (AZRE), Ezetap, RailYatri, Shubham and Wooplr. Prior to working with Helion, Dhruv spent 4 years with McKinsey & Co. as a research and strategy consultant and 2 years with ABN Amro Bank across multiple roles.

Dhruv holds a Bachelors in Commerce (Delhi University) and a Masters in International Business (Symbiosis International University). He has also completed an executive program in Private Equity from The Indian School of Business (ISB).

When not cracking investment deals, Dhruv likes to play Golf. He is a driving enthusiast and enjoys long distance driving whenever he gets a chance.

Vivan Sehgal

Director, Sistema Asia Capital (India)

Vivan is Director at Sistema Asia Capital (SA Cap) Advisory and is based out of New Delhi. At SA Cap Advisory, Vivan is responsible for analysing opportunities in consumer internet sectors where he leverages his strong operational background . Vivan has consulted marquee Russian companies (Sistema, Ural Mining & Metallurgical Company, MetroVagon Masch Zavod, May Tea Company) on international trade business issues and was awarded a letter of gratitude in 2010 by then Russian Prime Minister H.E. Vladimir Putin.

An old-timer in Sistema, Vivan was associated with Sistema’s telecom venture, Sistema Shyam TeleServices Ltd. (SSTL) earlier. At SSTL (MTS India), Vivan was heading the Data Postpaid business and was credited for growing profit and loss (P&L) for SSTL’s postpaid data business & channel alliances with laptop OEMs by 2X during his stint. As Sistema’s first employee in India he worked on the transaction to acquire Shyam Telelink in 2007 and was primarily responsible for all statutory and regulatory compliances for the deal.

Vivan secured his PG Diploma from Indian Institute of Planning & Management and has done his Bachelors in Arts from Delhi University.

A fan of football and select Blues gutarist, Vivan spends his free time travelling and in jam sessions with fellow musicians.

Leonid Musatov

Executive Director, Sistema Asia Capital

Leonid Musatov is the Executive Director, Board Member of Sistema Asia Capital and a member of the Investment Committee of the company, based out of Singapore. Leonid has a proven track record of successful new brand and business launches in the consulting, FMCG, food & beverage, and telecom sectors. He is regarded as an innovation oriented business leader with an extensive marketing and sales experience, having worked in a variety of countries including Italy, Russia, UK, India and Singapore.

Leonid was previously Chief Operating Officer at MTS India, Sistema’s telecom venture in India. He began his career with Telecom Italia in Moscow, where his responsibilities included overseeing the marketing of new telecommunications products and services. Leonid then joined Dun & Bradstreet, heading up ad hoc market research and facilitating the launch of A.C. Nielsen services in Russia. In a previous assignment, Leonid was with Mars Confectionery in various management positions and in different geographies. He was responsible for new product development, marketing and new brand launches.

Leonid attended Moscow State University graduating with a Masters degree in Economics and International Marketing. He then followed it up with a degree in International Marketing at the University of New York in America.

An avid tennis player, Leonid dedicates his time away from work in playing tennis and reading about psychology and information technologies.

Tejash Prajapati

Executive Director, Sistema Asia Capital

Tejash is the Executive Director, Board Member of Sistema Asia Capital, based out of Singapore. Tejash also serves on the Board of Sistema Asia Fund Pte. Ltd.

Tejash has over 13 years of work experience in equity investments and fund management activities in Singapore. Previously Tejash worked at Enam Asset Management (Singapore) Pte. Ltd. for 5 years (Jun 2011 - Jun 2016), Reliance Asset Management (Singapore) Pte. Ltd. (Jan 2008 - Apr 2011) and prior to that at Marshal Fund Partners Pte. Ltd. (Jun 2005 - Nov 2007). In previous assignments, Tejash was part of the investment teams that managed portfolio construction, trading and analytics of portfolios, supported investment decision making, risk management, assisted in marketing, investor relations and oversaw operations. Tejash was an integral part of the team which was awarded one of the largest global institutional allocations to India in 2008 and 2012-2015 respectively. Tejash has knack of building investment management platforms from initial stages including investment disciplines, operations, risk management and compliance functions.

Tejash holds Master’s degree in Financial Management from Middlesex University Business School (London, UK) and received Bachelor’s degree in Chemical Engineering from the M.S. University (Baroda, India).

Tejash enjoys swimming in leisure time and likes to be involved in social aspects such as volunteering, helping people.

Jeremy Ang

Principal, Sistema Asia Capital

Jeremy is the Principal at Sistema Asia Capital, based out of Singapore, where he covers advanced B2B technology with specialization in smart city software verticals.

He brings to the team China cross-border technology investment experience and has led investment deal evaluations and constructed market penetration strategies for companies in China, India and Southeast Asia. He was also formerly an investment professional and portfolio strategist of a Shanghai-headquartered VC fund which co-invested with Tencent in NASDAQ:QTT (Recognized as one of China's fastest growing unicorns in 2017/18); where he was seconded to design emerging market expansion and hybrid monetization strategies leading up to QTT's IPO.

Jeremy graduated from National University of Singapore with a Bachelors in Economics (Minor in Finance) and has been involved in the Asian technology space since 2012.

He attained his First Solo flight certification at the age of 17 and has served as a Lieutenant in the Singapore Armed Forces (SAF) with military flying experience. He is now a FPV high-speed drone racing enthusiast and enjoys adventure traveling as well as playing the electric guitar at live gigs.

Edward Tay

Chief Executive Officer, Sistema Asia Capital

Edward is the Chief Executive Officer, Board Member of Sistema Asia Capital and a member of the Investment Committee.

He previously held senior roles in British Telecom, IBM, Keppel Communications and Hewlett Packard in divisions that include AI, data centres & analytics, cloud services, IOT, smart city, 5G, satellite communication & next generation mobility networks.

Edward actively engages the regulators, investors and business community in China on entrepreneurship and sustainability issues.

A graduate from National University of Singapore in Mechanical Engineering, Edward serves as a Business Mentor at Singapore Management University and Adjunct Lecturer at Peking University for MBA Private Equity and Venture Capital.

He volunteers in public libraries, Singapore Red Cross and Singapore Children Society.

Vsevolod Rozanov

Chairman of the investment committee, Sistema Asia Fund,
Non-Executive Director, Sistema Asia Capital

Vsevolod Rozanov is the Group CFO at Sistema PJSFC and is also the Chairman of Sistema Asia Fund, based out of Moscow, Russia. He is also on the Board of SSTL (Sistema’s telecom venture in India) and MTS Russia. Vsevolod previously held the position of Vice President for Finance and Investment, member of the Management Board at MTS from 2006 till 2008. From August 2008 till May 2013, he was the CEO of Sistema Shyam TeleServices Limited (MTS India).

Prior to joining the Sistema Group, Vsevolod held various positions with Bain & Company Inc. in Moscow, London and Stockholm from 1993 till 2001. From 2002 till 2004, Vsevolod was the Deputy CEO of Economics and Finance at CJSC MTU-Inform. From 2004 till 2006, he was Vice President of Economics and Finance at OJSC Comstar United Telesystems.

Vsevolod graduated from the Faculty of Economics of Lomonosov Moscow State University, Department of Foreign Economies.

Beyond business, Vsevolod’s interests include reading modern literature, travelling and doing cross country skiing.

Sergey Savchenko

CEO, Sistema Asia,
Non-Executive Director, Sistema Asia Capital

Sergey heads Sistema Asia Pte. Ltd. as the CEO and is non-executive Director of both the Sistema Asia Fund and the Fund Manager. He was previously in Sistema Shyam Teleservices Ltd. (MTS India) as CEO - from September 2015 to September 2018, and as Deputy CEO and CFO - from September 2008 to September 2015. Sergey worked with MTS India right from its inception and was responsible for the overall supervision of the finance, risk management and compliance functions, implementation of best practices of management and control. Sergey still remains a non-executive Director on Sistema Smart Technologies Limited (ex-Sistema Shyam Teleservices Ltd.). Sergey serves on the board of Sistema’s investment advisory division in India, and SACAP India Private Limited.

Sergey has been with Sistema PJSFC almost 20 years, starting with the position of Deputy CEO of the leading Moscow based wire line and internet operator MTU-INFORM in 1999. During his long stay with the Sistema Group, Sergey has worked on various assignments which equipped him with wide experience and management skills. Sergey’s, assignments included being the Vice President and Financial Director of whole Sistema Group, First Vice President for Finance and Investments at Sistema Telecom (Managing Company for all Sistema Telecom Assets). He was also Vice President of Moscow Bank for Reconstruction & Development, Deputy CEO of large Infrastructure Company – PSO Sistema Hals.

Prior to working with Sistema PJSFC, Sergey spent 8 years with the Moscow office of international consulting firm - Bain & Company Inc (1990-1998). He was also Deputy General Director at Aton, one of the largest Russian Investment Group (2008).

Sergey holds a PhD degree in Economics and a Master’s degree in Economics from the Lomonosov Moscow State University and an MBA from Duke University, Fuqua Business School in the United States.