New Delhi, Oct. 15 -- MUMBAI: Asia-focused investment firm TR Capital's director Rohitt Mutthoo, who oversees investments in India, is set to step down in the coming weeks and partner with former Eight Roads Ventures executive Raj Dugar to lead a secondary fund, three people familiar with the matter said.

Mutthoo resigned about two months ago and is currently serving his notice period, which will conclude in the first week of November, two people cited above said on condition of anonymity.

"He is expected to join hands with Raj Dugar in a new firm called Ambit Arcadia Alternatives and lead the secondaries strategy for the firm," a third person said.

A spokesperson for TR Capital confirmed the departure and added that India remains a si...