New Enterprise Associates is expanding operations in India. Led by Ben Mathias as Vice President, the Indian operations will work closely with NEA's US-based technology team as it focuses up to USD 200M in investments in several technology sectors within India. The India expansion is in line with NEA's strategic plans to develop a presence in the emerging markets of India and China.
“We have been selectively investing in India for many years and believe the country offers an attractive environment for venture investing,” said Peter Barris, NEA Managing General Partner. “Given our experience to date, we believe it is the right time to expand our investment focus in this region and we look forward to working with the many talented and successful entrepreneurs and executives in India.”
NEA has focused some of its technology investing efforts on high-growth markets in India, having invested in several Indian and India-U.S. cross border companies. Examples of these investments include Sasken, Telsima, Nevis Networks, Protostar, InSilica and GlobalLogic. It was also recently announced that NEA 12, NEA's most recent fund, became a 20 per cent stakeholder and one of the largest investors in NEA-IndoUS Ventures, a venture capital fund focusing on early-stage technology investments that share roots in both India and the United States.
NEA will primarily invest in early-stage IT investments indirectly, through NEA-IndoUS Ventures. NEA's direct investments will be primarily in mid to late-stage opportunities.
“NEA's focus in India will be on expanding its investment portfolio, while making returns on our initial investments. We look forward to working with India's best and brightest entrepreneurs in telecom, media, alternative energy, technology-enabled services and infrastructure,” said Krishna “Kittu” Kolluri, General Partner. “Our U.S.-based team, which also includes Mark Perry and Ravi Viswanathan, will be consulting with Ben Mathias, Vice President of New Enterprise Associates (India) Pvt. Ltd. to identify opportunities that deliver innovative technologies that address India's urban and rural market needs.”
Source : sda india