Westbridge Capital to join hands with Sequoia launch an India-dedicated fund

Economic times reports:

India’s largest venture capital firm Westbridge Capital is joining hands with Silicon Valley’s blue blooded venture firm Sequoia Capital to either launch an India-dedicated fund or direct some of Sequoia’s existing funds towards investments in the country.
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If the deal works out, it would perhaps be the first time that a global VC is joining hands with a local firm for a specific India fund.
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India is becoming important in the US venture fund industry. For instance, Norwest Venture Partners raised its largest fund of $650m for India and is expected to invest in early and mid stage investment. Most of the investments by VCs in the technology sector is coming down to India as development centres for the technology are located here. India is also becoming important as the growth and penetration of technology and bandwidth makes it an ideal market for internet based consumer service offerings. One of the areas which has become very attractive for VC fund is online travel and Kleiner Perkins, NVP, Westbridge and SAIF Partners have all made investments in this area.

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