NEA IndoUS, a new venture capital firm sponsored by Silicon Valley’s New Enterprise Associates to invest in India, has raised $189 million for the effort.
The fund has crept up from the original target of $150 million when we wrote about the plans a year ago.
NEA tapped Vinod Dham — known as “father of the pentium” chip for his work at Intel — for the effort, along with Vani Kola, whose first start-up, RightWorks, was acquired in 2000 by Internet Capital Group (ICG) for $657 million.
See the Merc’s story today for the latest details.
One Comment
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dan said:
I have been saying for some time now that the bubble in India had not popped yet, and big moves like this just prove it more and more. Investing in India still looks like a good idea for long-term and short-term plays. Here is a report that sparked my interest.
