IDG Ventures, which recently announced a $150 million venture fund in India, has appointed Sudhir Sethi as its Managing General Partner for its India office. Sethi will be joined by Manik Arora as a General Partner, T C Meenakshisundaram as Chief Financial Officer and Hemir Doshi, as Investment Advisor. The fund will be based out of Bangalore.
IDG Ventures globally manage $1.4 billion in total assets with offices in the U.S., China, Vietnam, and now India. In a statement Sethi said that IDG Ventures will “primarily invest between $0.5 and 5 million in early-stage technology companies and opportunistically up to $10 million in compelling growth-stage companies.” These companies will be in IT and BPO services, design engineering, electronics and hi-tech manufacturing, consumer internet and digital media, product application software, semiconductors, telecom and value-added mobile services, financial services, and other emerging technology-enabled areas.
Over the next five years they expect to invest in 20-25 companies in India and the Indo-USA corridor.
The fund’s advisors are Jagdish Sheth, management professor and Wipro board member, Arjun Malhotra, co-founder of the HCL Group and currently chairman & CEO of Headstrong, K B Chandrashekhar, founder of Exodus Communication and e4e.
source: ContentSutra
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