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| NEA ties with Vani Kola, Vinod Dham for India foray |
New Delhi, July 25, 2006: New Enterprise Associates (NEA), which is one of the largest VC firms in the US with $8.5bn in committed capital, has just entered the Indian market with an India-focussed fund.
The new fund, NEA IndoUS Ventures, is sponsored by NEA and has well-known Silicon Valley-based entrepreneurs, Vani Kola and Vinod Dham as partners.
"As Silicon Valley-based entrepreneurs, my partner Vinod Dham and I shared the same passion and conviction about India. We both like to work actively with entrepreneurs, we like to help build companies and so we decided to do a India fund," Ms Kola, who has herself just relocated to Bangalore with the fund, told ET.
Mr Dham, who is best known as the father of the Pentium chip, has already set up a VC fund called NewPath Ventures with Tushar Dave in the Valley. While the exact size of this new India fund is not know, NEA has recently closed a $2.5bn fund - NEA 12 - in the US which is its biggest ever.
"A portion of NEA 12 will be used for expansion into the rapidly growing markets of China and India," NEA had announced earlier this month. Among the prominent Indians at NEA are Krishna 'Kittu' Kolluri, general partner, earlier executive VP at Juniper Networks and Ravi Viswanathan, partner, who joined the firm from Goldman Sachs.
"Both Dham and I hope to leverage our combined knowledge, experience and recognition in India. Besides, we have the backing of a leading US venture capital firm focused on helping entrepreneurs create and build major new enterprises," Ms Kola said.
"Investing in India today requires knowledge about the country, its culture and its markets and strong relationships both in the US and in India," she added. Ms Kola's first start-up RightWorks was acquired by Internet Capital Group (ICG) for $657m in a deal that valued the company at $1.25bn in 2000. She later set up NthOrbit and Certus Software.
About NEA-IndoUS Ventures
NEA-IndoUS Ventures is a venture capital firm based out of India and the US, co-founded by Vinod K. Dham and Vani Kola. NEA-IndoUS Ventures invests in businesses that leverage India's accelerated, long-term growth prospects and capital efficiencies.
Commitment to India
India offers substantial long-term growth potential and cost benefits in today's global marketplace. Its thriving economy and growing consumer class make it the next hub of venture investment. By being located in India, NEA-IndoUS Ventures has the insight and advantage to invest in opportunities with unique differentiation. The firm is dedicated to create innovative companies out of India that serve both the Indian and the global markets.
Commitment to Entrepreneurship and Building companies
The firm is committed to early-stage investment and nurturing entrepreneurs to build significant businesses. The partners have the experience, expertise and commitment to actively support the development and scaling of young, promising companies.
The firm's partners have extensive networks and individual brand equity that extend to both India and the United States. This network of relationships and experience is an invaluable asset to entrepreneurs and portfolio companies. In addition, a significant partner in this fund is New Enterprise Associates (NEA) who is a sponsor and active advisor.
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