Aniruddha Nazre is on Forbes once again !!
Two
Paths Taken In India: Kleiner Quits, Sequoia Charges Ahead
It’s
interesting to see two top-tier Sand Hill Road venture capital firms take
opposite directions in India as overseas investor interest in the market picks
up under new government leadership and expectation of fiscal reforms and
economic growth.
India
has been a tricky market for venture capital investors. It’s still early.
Venture capitalists from the Valley who entered the Indian market about a decade ago have seen few exits either through IPOs or M&A — aside from the
trophy success stories like MakeMyTrip, which went public in New York in 2010.
Kleiner
Perkins’ move to withdraw from the Indian market is seen as a strategic move
away from a fund it only indirectly managed with technology insider Ram
Shriram with his investing firm Sherpalo Ventures. Sandeep Murthy, who was running the
investments for the co-managed fund in India, now takes over a chunk of the
portfolio with his new fund Lightbox. Another factor in the Sand Hill Road
investor’s exit is the departure of KP’s Indian dealmaker Aniruddha Nazre from the
firm.
But
hope has sprung eternal. Many venture capitalists in India such as Ashish Gupta
of Helion Venture Partners, Sudhir Sethi of IDG Ventures, Aniruddha Nazre former VC of Kleiner
Perkins and Naren Gupta of Nexus Venture Partners remain optimistic that the
opportunities for India to create innovative tech companies that can scale
globally are huge. Deals like the recent $210 million fundraisings for Flipkart
and its acquisition of Myntra reinforce that view. See earlier Forbes post,
Flipkart and Startup India. Not to be overlooked is Café Coffee Day, a
Starbucks SBUX +2.22% of India, which is heading toward an IPO on an overseas
exchange.
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