Venture capital firm Sequoia Capital on Tuesday said there is a need to focus on corporate governance in Indian startups to build world-class companies. In a startup event hosted by Microsoft, Sequoia Capital and Surge Managing Director Rajan Anandan, said Indian startups have the potential to create 100 million jobs.
Sequoia Capital's statement comes after cases of corporate governance issues in new-age startups like BharatPe and Zilingo. Sequoia is an investor in both companies.
Anandan said, "The last thing that has really come to light over the last 3-7 months is corporate governance. The Indian ecosystem is now entering a new phase. To build world-class companies, you have to have world-class corporate governance," as reported by PTI.
Further, Anandan added, "We've been very focused on helping our founders understand what it takes to put in place the processes, the systems, the discipline, to actually have a company that will evolve into a company that has world-class corporate governance."