Bessemer Venture Partners sets up India advisory group
SOURCE: Press Release
DATE: JULY 11th, 2008
US venture capital firm Bessemer Venture Partners has set up an advisory group for its Indian investment team. The advisors will support the team in both deal origination and working with portfolio companies.
The advisory group comprises chairman Sridar Iyengar, the former CEO of KPMG India; Rama Bijapurkar, a board member of Infosys and ICICI Prudential Life and a visiting faculty member of the Indian Institute of Management; Rajeev Chitrabhanu, the CEO and managing director of JM Financial Services Private; and M K Sharma, a former vice-chairman of Hindustan Unilever.
Rob Chandra, a managing partner at BVP, said, ‘India is an exciting investment opportunity for us. Just as we saw the long-term opportunity when we entered Silicon Valley in the 1970s, we see a similar opportunity in India driven by the growth in middle class prosperity and innovation. We have an exceptionally experienced and talented advisory group who we think will help us build a great investment practice by combining local expertise with a global investment platform.’
BVP, based in New York, was originally founded in 1911 as an investment vehicle for the Phipps family. It manages more than $2bn of capital invested in over 120 companies globally. The firm has invested in 21 companies in India over the past four years and has a 14-person team in Mumbai.
In summer 2007, it closed a $1bn fund, Bessemer Venture Partners VII. Of that amount, BVP has dedicated $350m to investments in India.
No relate
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply