Mukul Singhal and Rohit Jain, who were leading the seed investments at SAIF Partners are leaving the venture capital firm by end of this month to set up an early stage fund.
The size and name of the new micro venture firm has not been decided but the duo plans to invest about $500,000 each in 15-20 startups in a year.
Mukul Singhal and Rohit Jain will be raising money from next month. They both have already got soft funding commitments of about $5 million from a few entrepreneurs.
Earlier, Rahul Chowdhri, Ritesh Banglani and Alok Goyal had also quite Helion, to pursue opportunities outside of Helion.