Sumit Jain has taken on a managing partner job at Sistema’s Asia Fund on the back of nine years at Kalaari Capital which included a role in seeding two VC funds.

Sumit Jain (pictured) has left venture capital firm Kalaari Capital to become a managing partner at Russia-based conglomerate Sistema’s Asia Fund Advisory (SAF) vehicle, the Economic Times has reported.

SAF launched in late-2015 with a $50m commitment by Sistema to back mid-stage, mainly India-based startups. It has reportedly accrued a portfolio of 10 such businesses over the past two years.

Sistema has since increased its commitment to $80m and will open the fund to external investment for an overall target…