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Bessemer Venture Partners raises Rs 10,000 crore for India play

The VC firm, which has invested also in Snapdeal and TaxiForSure, could deploy over 1,250 crore or $200 million in India, as it continues to scout for technology startups.

, ET Bureau|
Updated: Feb 20, 2015, 01.04 PM IST
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The VC firm, which has invested also in Snapdeal and TaxiForSure, could deploy over 1,250 crore or $200 million in India, as it continues to scout for technology startups.
The VC firm, which has invested also in Snapdeal and TaxiForSure, could deploy over 1,250 crore or $200 million in India, as it continues to scout for technology startups.
MUMBAI: Silicon Valley-based investor Bessemer Venture Partners, which has backed firms like Pinterest and LinkedIn, has raised a global fund with a corpus of about Rs 10,000 crore, over a tenth of which is expected to be invested in India.

The VC firm, which has invested also in Snapdeal and TaxiForSure, could deploy over 1,250 crore or $200 million in India, as it continues to scout for technology startups.

“We allocate around one-third of the funds outside the US, which is over Rs 3,000 crore ($500 million) for India and Israel,“ said Vishal Gupta, MD leading the India office. “We don't raise a dedicated pool for a country or strategy, which also gives us flexibility in writing cheques.“

The VC firm expects to invest anywhere from Rs 1.5 crore to Rs 250 crore in each deal, with preference for sectors like consumer internet, technology driven marketplaces, mobile first companies and enterprise software as a service (SaaS).

Bessemer's fundraising comes even as India-focused VC funds are expected to raise a re cord capital of over Rs 19,000 crore ($3 billion) this year.

Backed by surging valuation of firms like Flipkart and Snapdeal, VC has become an attractive asset class for investors in these funds that include pension funds, endowments, family offices and sovereign wealth funds.
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