Bessemer Venture Partners has closed a dedicated USD220 million fund in India to back the country’s next generation of innovators.
The fund will focus primarily on early-stage investments, consistent with Bessemer’s time-honoured approach of starting with seed and Series A investments and sticking with companies throughout their growth lifecycle with later stage investments. Bessemer plans to apply its roadmap-driven investment approach to deploy the new capital over five roadmaps across consumer internet and cloud software, including marketplaces, digital health, social commerce, vertical and global SaaS. These roadmaps take a deep look at industries to identify emerging areas and understand the complexities behind the sectors.
Bessemer first invested in India 15 years ago and has had a dedicated team of investors on the ground ever since. The firm’s track record in India includes multi-stage investments — ranging from seed to Series D — in market-leading companies that are reshaping industries, such as: PharmEasy (pharmacy benefits), BigBasket (online grocery), Swiggy (food delivery), Urban Company (home services) and Perfios (credit underwriting platform). The partnership has realized seven IPOs within India including Home First Finance, IEX and Matrimony.com, and today has five companies within its portfolio valued at more than USD1 billion, including Livspace (home interior platform) and MyGlamm (direct-to-consumer beauty).
Read more/Source: Private Equity Wire
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