2024 Maruti Swift India Launch Next Month – New Details Out
April 25, 2024
Trending News
April 27, 2024,7:33:56 AM
Bessemer Venture Partners has announced the launch of their first India-focused fund
.jpg)
Bessemer Venture Partners, based in the United States, has announced the launch of its first $220 million India-focused funds. The fund, which previously invested from its global fund in India, would now use the India fund to back early-stage startups, investing in seed and Series A rounds.
Nithin Kaimal has been named chief operating officer of Bessemer Venture Partners India's Bengaluru office, which opened in 2006. Nithin was previously the Co-Founder of investment management business VixCap. He has also worked as a senior director at IndiaRF, where he was in charge of the distressed asset acquisition strategy.
Other members of the India operations team include partners Anant Vidur Puri and Vishal Gupta, as well as investor Mohammad Ibrahim Faruqi.
The India fund will expand its focus beyond consumer internet, enterprise, and healthcare to include social commerce, vertical and global Software-as-a-Service, and cloud software.
"We've always had a global approach to investing, and India has always been a priority for us." This fresh funding allows us to delve further into the market while still benefiting from Bessemer's worldwide network and capabilities to support our portfolio.
In a statement, Vishal Gupta, Partner and Managing Director of the firm's Bangalore office said, "The dedicated fund illustrates our conviction in the huge development potential within India."
Bessemer made multi-stage investments in India in the past, including the IPO-bound e-pharmacy player Pharmeasy, Tata-backed grocery platform Bigbasket, food delivery giant Swiggy, and home services platform Urban Company, among others.
Bessemer made multi-stage investments in India in the past, including the IPO-bound e-pharmacy player Pharmeasy, Tata-backed grocery platform Bigbasket, food delivery giant Swiggy, and home services platform Urban Company, among others.
Around September, the firm made investments in Nova Benefits, a corporate health insurance platform, and LeenaAI, an HR digital startup. As the fund's top leadership churned in 2018, it noticed a slowdown in its investments in Indian companies.
Blume, an early-stage venture capital firm, has announced the first closure of its $200 million funds four, maintaining the country's early-stage investing momentum.
If you enjoyed reading this article and wish to support us by making a contribution or a small donation click on Razor Pay IIB Donation
What’s hot
Icons of Indian Business: Icons of Indian Business is a monthly business magazine targeted at Indian business owners, traders and entrepreneurial enthusiasts. It provides online media solutions for Entrepreneurs. IIB has been the definite guide to the diverse challenges of entrepreneurship. Each edition consists of entrepreneurs ... with the all information they require and demand to grow their business. Iconsindianbusiness.com offers a daily source of information, strategic insights and how-to guidance on virtually every area of business management, from leadership to marketing, technology and money matters. IIB connects with millions of business owners who drives forward with the ideas and innovations.Make your brand the preferred choice with these affluent business decision-makers through a variety of customized programs integrated across digital,print,event and community platforms. IIB team works from Bangalore,Karnataka, but has a presence throughout India through its correspondents. IIB published 12 times a year, available in print and digital editions.
© 2024 Iconsofindianbusiness.com. All Right Reserved.