- Kavita Gupta will no longer be the head of ConsenSys but will serve as an advisor.
- ConsenSys plans $200 million funding round.
Kavita Gupta has been an integral part of ConsenSys Ventures since it launched in September 2017 in San Francisco, California. Positioned as the head of this company, Gupta’s responsibility involved overseeing a $50 million budget, which Joseph Lubin financed as a co-founder of both ConsenSys and the Ethereum Foundation. Gupta managed to guide the venture capital arm to become one of the most successful firms in the entire blockchain ecosystem, including major investments from Blockfi and StarkWare. However, her time has come to an end, as The Block announced that Gupta has officially stepped down as the head of ConsenSys Ventures.
When Gupta spoke with The Block in January, she has avoided answering a question in regard to the time that she planned to continue to be with ConsenSys Ventures. Even so, Gupta has known that her tenure was coming to a close since November last year, which coincides with the plan from ConsenSys to finance its work with a $200 million funding round.
After the prices in the crypto market took a dive, ConsenSys ended up letting go over 10% of the staff by the end of 2018. During the year, the platform only managed to make $21 million in revenue, followed by the integration of ConsenSys Labs, which was only announced today.
Formerly, Gupta had worked at HSBC, McKinsey, and the trading floor of the World Bank. Now, her new role will be as an advisor with ConsenSys, helping the companies that come to the investment arm to scale up. However, while speaking to The Block, she added that she will soon be teaching at Stanford University, which will last for two years.
Before finishing her time with The Block, she added,
“I truly believe in the mission and vision of Joe [Lubin] and will always be open to help expand that.”