Leading global VC fund managing $3.7B conducts its global review in India
Tuesday May 19, 2009, Bangalore: IDG Ventures family of funds from across five countries- China, India, Vietnam, South Korea and USA held their annual global review meeting for the first time in India, over a 3-day period from May 17th to May 19th 2009. Last year’s annual meet was held in China.
India was a clear choice of destination for this year due to multiple reasons. Firstly, IDG Ventures India has finished over two years of operations and has established a leadership position in early stage technology funding. Secondly, India’s emergence not only as an attractive outsourcing destination but also as a large domestic market that is experiencing a faster GDP growth rate than majority of the world.
Our conviction in the India market has been strengthened further with a strong and stable government that can drive the Indian economy.
With IDG Ventures presence in India, many of our portfolio companies from other countries are better positioned while considering an India entry. Conversely, the global venture team is meeting with many of our Indian portfolio companies to assist with each of their entry into various global markets through leverage of local relationships and knowledge.
Mr. Patrick McGovern, Founder and Chairman of IDG, the lead investor in IDG Ventures said upon the conclusion of the conclave, “During the course of our meetings we discussed our strategies and performance in various markets. We are extremely pleased with the progress made in India so far. IDG wishes to reaffirm its long term commitment to early stage venture investing in India. We will continue to support our team, strategy, investments and future funds here.”
Mr. Sudhir Sethi, Founder, Chairman and Managing Director, IDG Ventures India said, “Now with the markets improving and a stable political environment we feel it is a very good time to invest in India. We have already committed Rs. 300 crore to our existing investments across software, telecom, mobile, security and digital consumer markets. We intend to commit our balance Rs. 300 crore over the next 24 months.”
Some of the technology and tech-enabled sectors of interest to IDG Ventures India are MVAS in light of the impending 3G rollout, software products such as business intelligence (BI) and analytics in retail, telecom and BFSI, education, healthcare, digital entertainment, clean tech and manufacturing including robotics and aeronautics.
From a geography point of view we are focusing on 6 cities in India- Bangalore, Mumbai, Delhi, Chennai, Hyderabad and Pune.
The India fund of Rs. 750 crore was launched in September 2006. IDG Ventures India has invested in 9 early stage technology and tech-enabled companies. Given its leadership positioning in its sector in India, IDG Ventures India tends to receive majority of the relevant fundable investment opportunities.
Worldwide, IDG Ventures network of funds manages approximately $3.7 Billion. It has invested in and scaled many young technology companies to global repute, scale and exits. Over the last 15 years the network of funds has invested in over 220 companies including some leading names such as Baidu, Ctrip, Netscape, Sohu, Soufun, Tencent and VinaGame.
IDG Ventures is backed by International Data Group (IDG), the world’s largest IT-focused media company and with over $3 Billion in annual revenues. By combining the IDG platform – an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources – with years of hands-on experience in early-stage company building, each IDG Ventures fund helps companies understand their markets better and penetrate them faster than their competition.
About IDG Ventures
IDG Ventures India is a US$150 Million early-stage venture capital fund investing in technology-related product and services companies. The fund is part of IDG Ventures, a global network of technology venture funds with over $3.7 billion under management, over 220 investee companies and 10 offices across Asia and North America. IDG Ventures makes investments on behalf of its Limited Partners, including its principal investor and sponsor, International Data Group (IDG), the world's largest IT media company. By combining the IDG platform - an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources - with years of hands-on experience in early-stage company building, IDG Ventures helps its investee companies understand their markets better and penetrate them faster than their competition.
Leading technology companies that IDG Ventures has invested in include BabyCenter, F5 Networks, Netscape, Service Metrics and VA Linux in North America and Baidu, Ctrip, Sohu, Tencent and VinaGame in Asia.
Our India portfolio consists of 3D Solid Compression, Aujas Networks, ConnectM, iViZ, Kreeda, Manthan Systems, Myntra, Ozone Media and Perfint.
For more information, please visit www.idgvcindia.com
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