Info Edge CFO Chintan Thakkar resigns to join IAN Group as Group CEO

After nearly 12 years at Info Edge, Chintan Thakkar has stepped down as chief financial officer to take over as group chief executive officer at IAN Group, formerly known as India Angel Network. Thakkar will remain with Info Edge for the next three months to complete his notice period.

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At Info Edge, the parent of Naukri, Thakkar helped take the finance, investor relations, regulatory, legal and secretarial functions to greater heights as business grew and became more complex and the environment became more challenging and volatile, the company said in a statement.

In addition, he contributed in the areas of strategic investing, capital market, including fundraise, M&A, helping and guiding the venture investing team, start-up portfolio management, risk management, treasury management, tax and above all in corporate governance.

At IAN, he will also serve as senior managing partner of the IAN Alpha Fund, which invests between $1 million and $5 million in early-stage startups.

“As Chairman I found Chintan’s advice and insights both in Finance and in several areas beyond Finance to be extremely valuable. His tangible and intangible contributions to the Company have been huge,” said Kapil Kapoor, Chairman of Info Edge.

Sanjeev Bikhchandani, Founder and Vice Chairman of Info Edge, said, “One of the jobs of a good CFO is to save the founder from himself. Chintan did an admirable job of that apart from doing the regular job of the CFO. I shall miss the conversations and the counsel. He shall remain a friend and a trusted advisor”.

In his resignation note, Thakkar wrote, “In my pursuit of empowering experiences and enriching growth, I will transition into a career in Investments as Group CEO of IAN Group and Senior Managing Partner at IAN Alpha Fund. IAN is one of the pioneers, and today, it is the country's largest platform for early-stage investing, with both Angel and VC Funds.”

“Apart from having the opportunity of contributing to the business, what I will miss most about Info Edge will be the people I had the privilege to work with – in my team and also across the Company and on the Board. It is rare to find an Indian company with the Corporate Governance standards of Info Edge. I learnt a great deal here,” Thakkar added.

For IAN Group, one of India’s oldest angel networks, the appointment is part of a broader strategy to strengthen leadership. Founded in 2006 by Saurabh Srivastava, Raman Roy, Mohit Goyal and Padmaja Ruparel, the network has invested nearly Rs 900 crore in more than 225 startups. It counts Zypp, Propelld and Wooden Street among its portfolio companies.

IAN transitioned into a venture capital firm in 2017 with the launch of its first fund, a Rs 375 crore vehicle, and announced its second, targeting Rs 1,000 crore, in 2022. The fund held its first close at Rs 355 crore in 2023 and is yet to mark its final close.

At Info Edge, Ambarish Raghuvanshi will join as Interim Chief Financial Officer of the Company at the end of Chintan’s notice period. He has been a Co-Promoter of Info Edge and served as its Whole-time Director and CFO from 2001 till 2014. Notably, the company is in the process of identifying and appointing a suitable successor for the position of Chief Financial Officer.