The Mayfield Fund is bullish on India.
Founded in 1969, the global venture capital firm will soon announce the closing of a $108 million fund focused exclusively on investments in India. It filed paperwork for the fund with the U.S. Securities and Exchange Commission today.
Mayfield started investing in India in 2006 with a $111 million effort. This $108 million is the second generation of that fund.
“While the macroeconomic climate has varied since we started investing in India in 2006, we have learned that India continues to present valuable opportunities to technology and nontechnology investors,” said Navin Chaddha, Mayfield’s managing director, in a statement.
“Two of our key takeaways are that tech-enabled infrastructure solutions can create great value and lifestyle and entertainment products aimed at the consumer middle class can grow into universal brands,” he said. “In addition, we believe that mobile companies aimed at the 700 million mobile users and tech and tech-enabled services represent the future in India.”
Mayfield invests in early-stage Indian companies. It typically puts down up to $8 million in companies focused on infrastructure, tech, and the middle class. Its current investments in India include Amagi Media, Centum Learning, Genesis Colors, and Matrimony.com.
In its 44-year history, Mayfield has invested in roughly 530 companies, resulting in about 110 IPOs and 150 mergers and acquisitions.