bharatpe: Will continue to respond strongly to wilful misconduct, fraud, says BharatPe investor Sequoia Capital – Times of India

NEW DELHI: Breaking its silence over controversy at fintech agency BharatPe, Sequoia Capital on Sunday mentioned it has zero tolerance in the direction of confirmed wrongdoing and can proceed to reply strongly to wilful misconduct or fraud. Sequoia, which is the biggest shareholder in BharatPe the place co-founder Ashneer Grover was just about sacked from his position, in a weblog mentioned it will not hesitate to behave to guard the curiosity of shareholders and workers even when it prices it financially.
“We are going to take robust calls the place wanted within the curiosity of doing what is true,” it mentioned with out straight mentioning BharatPe.
The American enterprise capital agency mentioned it desires firms that aren’t simply priceless but additionally enduring.
“Not too long ago some portfolio founders have been underneath investigation for potential fraudulent practices or poor governance. These allegations are deeply disturbing,” it mentioned. “Now we have at all times strongly inspired founders to play the lengthy recreation. We give attention to the enduring, and discourage focussing on self-importance metrics.”
Startup ecosystem wants guardrails in order that just a few errant founders do not create large setbacks, it added.

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