Top execs at Oyo to pool personal funds into separate investment vehicle

Top execs at Oyo to pool personal funds into separate investment vehicle
Photo Credit: Photo Credit: VCCircle
29 Oct, 2019

OYO Hotels & Homes’ chief executive officer Ritesh Agarwal and a few other senior executives at the hospitality chain are set to pool their individual angel investments into a separate investment entity, Raaga Partners LLP, multiple media reports said. 

Raaga Partners, established in March 2016, has Oyo’s chief financial officer Abhishek Gupta and Agarwal as designated partners, reported ET citing a note by paper.vc, a business intelligence platform. 

Business development head, Anuj Tejpal, chief operating officer, Abhinav Sinha and chief supply officer, Ayush Mathur are also named as partners in the same note. 

Email queries sent to Ritesh Agarwal by TechCircle did not elicit any response till the time of publishing this report.

The five executives are members of the $10-billion-company’s founding team. 

“I am focused on building Oyo and that is what keeps me completely busy… I have made just a couple of such angel investments in companies recommended by trusted leaders of the industry,” Agarwal replied to ET’s queries. 

Gurugram-based Oyo Hotels & Homes has been expanding its operations and recently launched Oyo Hotels Japan.

This month, the company also rolled out a hotel booking portal called SuperAgent for offline travel agents.

Last month, it entered into student housing space by partnering with Indian Institute of Technology Delhi and Plaksha University in Gurugram.

In addition, the company had launched a home rental platform for working professionals in 2018.