Former Tech Mahindra executive Rajashree R joins VC firm Kalaari Capital

Tech Mahindra’s Americas growth head and former Tata Consultancy Services (TCS) executive Rajashree R has joined early-stage technology-focused venture capital firm Kalaari Capital, which has backed startups including Dream11, Signzy, Pascal.ai and BlueStone.

An IT sector veteran, Rajashree has nearly two decades of experience in retail and marketing at TCS, India’s largest IT firm, where she last served as the chief marketing officer. In January 2024, she joined the Mahindra Group’s IT subsidiary Tech Mahindra, fifth largest Indian IT firm with $6.4 billion annual revenue, as part of the new leadership changes under its CEO Mohit Joshi.

In May, she quit Tech Mahindra after spending more than two years as the chief growth officer for strategic verticals for Americas, its largest and more than 50% revenue generating region.


Rajashree did not immediately comment on the development.

Led by Vani Kola, Kalaari Capital is a Bengaluru-based venture capital firm which has raised about $850 million and has invested in more than 100 startups across artificial intelligence (AI), healthcare, business-to-business, consumer tech, Deeptech and software-as-a-service (SaaS) segments. Its key portfolio of investments includes Dream11, Signzy, BlueStone, Cure.Fit and Simpli Contract, and among the most recent ones are Mozark, Pascal.ai, MeshDefend and Hyperbots.

Rajashree’s exit comes at a time when the software services industry is facing an exodus of talent across senior, middle as well as entry level as the sector witnesses its most challenging times due to the AI disruption.

Many sector leaders today are looking at new opportunities outside the traditional IT services business, including in startups, investment firms and even mid-tier and new-age tech players.

Over the past few years, executives including Sanjay Jalona, former CEO and MD of Larsen and Toubro Infotech, joined private equity firm ChrysCapital, and Rajesh Ramaiah, former chief financial officer of Wipro, joined Premji Invest and has now set up his own fund Trident Partners, transitioning into the investment segment.

With the onset of agentic and GenAI, software services sector, one of the highest employers in the country, with more than 5.4 million direct employees, is undergoing a massive structural shift in its traditional labour-heavy model which has slowed business growth to a three-year low.