We're delighted to announce that Shardul Shah has been promoted to Partner. Since moving to San Francisco three years ago, Shardul has led Index’s entry into the security space and worked closely with Mike on growing our portfolio of enterprise investments.
During his tenure with the firm, which spans eight years and three countries, Shardul has worked on a variety of different initiatives, including the launch of Index’s first growth fund. He continues to focus on companies and founders in the security, devops and enterprise software sectors. We can’t wait to see what he does next.
Shardul’s promotion comes at a fortuitous time for our firm. In the past month, we closed our eighth venture fund with $550 million for seed and venture investments. We also closed our third growth fund last year, with $700 million for later stage companies. With these funds, Index will continue to invest in the most ambitious entrepreneurs around the world, who are transforming industries such as mobile, games, fintech, enterprise, ecommerce and marketplace.
As we mark five years in San Francisco and 20 years since our founding in Europe, we’re proud of our growing investment team in the U.S. In addition to promoting Shardul, we welcomed former Twitter CEO Dick Costolo to our family as a Venture Partner last month and Ilya Fushman to our partnership last year. Welcoming a new member to the Index family is a very deliberate and considered process, as we are a tight-knit partnership and cherish our culture deeply.
With three new partners and two new funds, we are charting a course to becoming a great and long-lasting institution. We look forward to meeting the next generation of founders and welcoming their companies to the Index family.