Analysis · Financial Services

Stellaris CFO Chetan GMS on evolving VC finance roles

By Startup Enthusiast · 20 February 2026

What they do

Stellaris Venture Partners CFO Chetan GMS outlines the shift from retrospective auditing to proactive strategic finance in venture capital

The role now demands expertise in tax horizon mapping, exit scenario modeling, and navigating tightening SEBI and RBI regulatory environments

GMS highlights a talent challenge due to the niche skills required for regulatory fluency and commercial judgment in fund management

Chetan GMS serves as the CFO of Stellaris Venture Partners.
He has a background as a Chartered Accountant with experience at KPMG and Helion.
GMS joined Stellaris in 2016 after his tenure at Helion.
The article discusses the evolution of the VC finance function within firms like Stellaris.
Finance roles have shifted from retrospective audit to proactive deal-making and strategic partnership.
GMS details four key buckets of the finance function: bookkeeping, transaction closure, portfolio support, and special engagements.
Transaction closure involves evaluating tax, regulatory, and cash-flow risks at the time of investment.
Portfolio support duties include MIS structuring, audit prep, and burn management for portfolio companies.

Global LPs (Limited Partners) now require detailed five-to-six-year tax horizon mapping.
Regulatory bodies like SEBI and RBI are tightening oversight on venture funds.
Compliance costs are rising, leading to a focus on risk-based compliance rather than blanket over-compliance.
The market is seeing a theme of capital discipline post-exuberance with a focus on runway planning.

Stellaris Venture Partners operates as a venture capital firm.
Its finance function manages bookkeeping and compliance for the fund.
The team handles transaction closure including structural risk evaluation for investments.
Portfolio support includes helping companies with capital planning and governance frameworks.
Special engagements involve fund setup, restructuring, and cross-border structuring.
The firm navigates complex FDI caps and cross-border distributions for its investors.
GMS emphasizes the need for scenario modeling for exit taxation and regulatory changes.
The finance team supports three-scenario modeling to manage burn and runway effectively.