BANGALORE: JumpStartUp has set up operations in the US. The new office, based
in SantaClara, California, will source Jumpstartup's US-India cross border
investments. The company’s MD, Kiran Nadkarni, will head the US operation.
In a media release, the company claimed that the opening of the office is in
line with it’s recently announced cross border strategy to invest in overseas
technology companies with linkages to India. The new office is expected to
kick-start cross border investment activity apart from servicing existing
investments. JumpStartUp is also exploring the opportunity of entering into
partnerships with leading technology venture capital funds to enable them to
jointly identify potential companies to make superior quality investments.
"Our new office represents the latest step in JumpStartUp's global
development. Our entry into the U.S market will help us capitalize on the
presence of a large number of budding hi-tech startups. The advantages of an
Indian presence are well understood and appreciated by both investors and
entrepreneurs in the US. JumpStartUp is well positioned to help the portfolio
leverage these advantages. Currently, we have two start-ups in the final stages
of evaluation and hope to close a couple more in the next several months, "
said, Kiran Nadkarni. "Once the business starts picking up, we will look at
further expanding our operations by infusing additional resources."
In the past one year, JumpStartUp has funded three hi-tech US based startups
which includes storage networking player Aarohi Communications, Jareva
Technologies, an enterprise software company and July Systems, the wireless
startup founded by Ashok Narasimhan and Rajesh Reddy. All three companies are
based in Silicon Valley and either has or will soon have technology development
and support centers in India.