Leadership Moves: Karwa Set to Lead AJIO, Kakaria Joins Famy Aspire, Kansal Enters Sadev Ventures

Sandeep Karwa Set to Succeed Vineeth Nair as AJIO CEO

Reliance Retail-owned fashion e-commerce platform AJIO has appointed Sandeep Karwa to a leadership role, with multiple reports indicating he will take over as CEO. Current CEO Vineeth Nair is expected to move into a broader strategic position within Reliance Retail’s fashion business.

Karwa joins from South Korean e-commerce company Coupang, where he served as country head for Taiwan. He brings extensive experience in the retail and consumer sectors.

Prior to Coupang, Karwa spent nearly 11 years at Flipkart, most recently serving as Vice President of the Flipkart Ads platform. He has also held board positions at Walmart India, Wildcraft India, and Arvind Fashions Limited.

The leadership change comes as AJIO continues to expand its presence in India’s online fashion market.

Former Solethreads CEO Sumant Kakaria Joins Famy Aspire Capital as Partner

Less than two months after the acquisition of D2C footwear startup Solethreads, its co-founder and CEO Sumant Kakaria has joined private equity firm Famy Aspire Capital as a partner. 

Kakaria shared the update in a LinkedIn post, stating, “After a blessed journey as an entrepreneur, I’m thrilled to announce I’ve joined Famy Aspire Capital as a Partner.”

Famy Aspire Capital is a strategic private equity fund focused on the consumer and healthcare sectors, backed by the Taparia family. The firm aims to invest in high-growth consumer businesses.

The move follows the acquisition of Solethreads by Tauseef Mirza, managing director of Mirza International, who bought a 100% stake in the company in March. Financial details of the deal were not disclosed.

Founded in 2020, Gurugram-based Solethreads sells sneakers, slides, and flip-flops through both online and offline channels.

Former CRED Executive Ishan Kansal Joins Sadev Ventures Leadership

Early-stage venture capital firm Sadev Ventures has appointed Ishan Kansal as co-founder and Managing Partner as it looks to expand its operations and scale assets under management. 

Kansal is expected to join the Delhi-based firm in early June 2026 and will lead its second office in India.

Kansal brings experience across consumer internet, fintech, insurtech, and investment banking. He joins from Snabbit, where he served as Head of Product, overseeing product, data, and design functions. 

Prior to Snabbit, Kansal was part of CRED’s early team, spending nearly six years working across payments, insurance, lending, deposits, user growth, and monetisation. He has also held roles at Paytm and Deutsche Bank across India and APAC markets.

Sadev Ventures is targeting INR 1,000 crore in assets under management over the next 18–24 months and is preparing to launch its second equity fund while entering the venture debt segment. The firm currently manages INR 240 crore and invests in early-stage startups across sectors.