Norwest Venture Partners (NVP), the California-based venture capital firm that recently invested $20 mn in Indian KPO firm Adventity, is scouting for buyout opportunities in the Indian IT space. Though NVP does not have a dedicated India fund, it intends to invest $300 mn in India over the next three years, and is targeting companies in the range of $25-30 mn operating in the services and product development space for acquisitions.
The fund currently has invested $50 mn in four IT companies in India and is planning to invest in other 10-15 companies over the next 2-3 years. Apart from Adventity, NVP had earlier invested $13.8 mn in Persistent Systems and another $10 mn in social networking site Sulekha.com. It also invested in online travel portal Yatra.com along with Reliance Capital and the TV18 Group.
NVP is working on a hybrid model, where companies across geographies can be merged together depending on the synergies. Even for its existing portfolio companies in India, the fund is open to merging it with any of its existing investee companies. Though internationally, NVP has made investments in a number of industries, in India, the fund will invest in semi-conductors, consumer internet and media companies.
Read The Economic Times for comments from Mr. Promod Haque, Managing Partner-Norwest Venture Partners.
Showing posts with label Adventity. Show all posts
Showing posts with label Adventity. Show all posts
Monday, January 22, 2007
Thursday, January 18, 2007
NVP invests $20 mn in KPO Adventity
Norwest Venture Partners (NVP) has invested $20 mn in Adventity, a provider of finance-focused strategic KPO and BPO services. Noted venture capitalist and managing partner at NVP, Mr. Pramod Haque, will join the company's board of directors. Adventity will use this funding to expand its market presence and infrastructure, further build out its innovative service offerings and increase business development efforts.
The NVP-led investment represents the first institutional round of funding for Adventity. Adventity's KPO solutions encompass quantitative capabilities such as financial modeling, comparable valuation analysis and data mining, as well as qualitative services such as broad researching and industry profiling. With more than 2000 employees globally, Adventity's clients include several global and investment banks, airlines, and some of the largest hedge funds.
Read the article in The Economic Times.
The NVP-led investment represents the first institutional round of funding for Adventity. Adventity's KPO solutions encompass quantitative capabilities such as financial modeling, comparable valuation analysis and data mining, as well as qualitative services such as broad researching and industry profiling. With more than 2000 employees globally, Adventity's clients include several global and investment banks, airlines, and some of the largest hedge funds.
Read the article in The Economic Times.
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