NEA-IndoUS Ventures launches India Fund

Bangalore, Jan 22 (UNI) After private and FI investors bringing big ticket investments to cash in on the booming Indian Economy, now is the time for venture capitalists to make hay.

NEA-IndoUS Ventures, a venture capital firm based out of Bangalore and jointly founded by US based Vinod Dham, known a father of Pentium Processor, and Vani Kola, today announced its entry into India.

Dham said the VC was partly funded by New Enterprise Associates (NEA), a leading Silicon Valley based venture capital firm that had 8.5 billion US Dollar committed capital and had invested in over 550 companies worldwide, he said.

He said NEA-IndoUS plans to invest in consumer led growth areas relating to technology and IT enabled services as well as global KPO/BPO opportunities. It had made investments in Obopay, a mobile payments company and Minekey, a personalised search engine company, he said.

Vani said NEA-IndoUS was betting on the 'India story' that had led to the world sit up and watch its swift progress. Fiscal discipline of the Indian companies, large growth in domestic market and high liquidity were making more VCs come to invest in India, she said.

Investments would also be made in infrastructure system for banking industry and mobile telephone sector, she added.

UNI