Sequoia and Zilingo declined to comment. Sequoia plans to appoint a replacement and still holds the board seat.
Sequoia Capital India’s Shailendra Singh has stepped down from the board of troubled Zilingo Pte following questions about the high-profile Singapore startup’s accounting practices, according to people familiar with the matter.
Singh, a managing director at the influential venture capital firm, resigned as a director about a week ago, after the departures of Temasek Holdings Pte’s Xu Wei Yang and Burda Principal Investments Ltd.’s Albert Shyy, said the people, asking not to be identified because the move hasn’t yet been made public. All three firms have been prominent backers of the fashion e-commerce platform once hailed as a symbol of Southeast Asia’s booming internet economy.
