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Investors
Suvidhaa Infoserve Pvt Ltd (SIPL), the pioneer of the Services Commerce ( ‘S-Commerce’) revolution in India, has received funding from two leading global venture capital firms, Norwest Venture Partners India (NVP India) and Reliance Technology Ventures. Reliance Technology Ventures directed the investment from one of its group entities. Suvidhaa, promoted by Paresh Rajde and initially funded by Mr. Shapoor Pallonji Mistry, will use the new capital to aggressively expand its portfolio of service offerings and enhance business development and marketing efforts.
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Norwest Venture Partners (NVP)
Norwest Venture Partners (NVP) is a global venture capital firm that has actively partnered with entrepreneurs to build great businesses for more than 45 years.
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NVP focuses on investments in information technology including: software, services, enterprise and communications systems, semiconductor/components and Internet, media and consumer. The firm currently manages more than $2.5 billion in venture capital out of its office in Palo Alto, California. Managing Partner Promod Haque has been ranked as a top dealmaker on the annual Forbes Midas List for the past three years. In 2004, Forbes named him as the #1 venture capitalist worldwide based on performance over the last decade. NVP has funded over 450 companies in the U.S. since inception, as well as several direct investments in India and more than 20 cross border companies. Some of the firm's recent investments and transactions include Adventity, Airespace (acquired by Cisco Systems), deCarta, KACE, mBlox, Omneon, Open-Silicon (acquired by Unicorn Investment Bank), Persistent Systems, Rackspace (NYSE: RAX), Resonext Communications (acquired by RF Micro Devices), SideStep (acquired by Kayak), Spinnaker Networks (acquired by Network Appliance), Sulekha, Winphoria Networks (acquired by Motorola), Yatra, and Yipes (acquired by Reliance/Flag Telecom). NVP has also funded such market leaders as Actel Corporation, Cerent (acquired by Cisco Systems), Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), PeopleSoft and Tivoli Systems (acquired by IBM).
For more information, please visit: www.nvp.com |
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Reliance Venture Asset Management Ltd |
Reliance Venture Asset Management Ltd is the corporate venture capital arm of the Reliance ADA Group. Since its inception in early 2006, the company has advised and / or invested in deals to the tune of over $4 billion. Stage, geographic and sector agnostic in its investment philosophy, Reliance Venture Asset Management has a global portfolio to its credit and has invested in promising companies such as India's largest online travel portal, Yatra.com, Suvidhaa Infoserve, Stoke Inc, Pelago Inc, Sequans Communications, E-Band Communications, Seedfund and two MIT-startups, Dhama Innovations and Scalable Display Technologies. Some of the transactions they had advised the Reliance ADA Group on include the $300 million all-cash acquisition of San Francisco-based, Yipes Inc. by Reliance Communications, $82 million acquisition of UK-based, Vanco plc, and eWaveWorld, a $500 million initiative to bring 3G and 4G to 50 countries around the world by 2012. The company was recently ranked 30th in the Red Herring Top 100 Global Venture Capital Firms in 2009 and was the only India based corporate VC company to feature in the ranking.
For more information, please visit: www.relianceventure.com |
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