Indian VCs to promote ‘Desi’ entrepreneurs in Silicon Valley

BANGALORE: The Indian Venture Capital Association (IVCA) has announced the

formation of its Silicon Valley Chapter, the first chapter to be formed outside

of India. The new chapter was formed with the objective to build relationships

with Silicon Valley-based venture capital and private equity organizations that

are interested in investing in Indian entrepreneurs and companies, a release

said.

Founding chairman of the Silicon Valley chapter of the IVCA and the Senior MD

of WestBridge Capital Partners, Sumir Chadha said, "We founded the Silicon

Valley chapter of the IVCA to help create a community of VCs to fund US-India

technology companies."

Infinity Ventures president and chairman, Saurabh Srivastava, added,

"With more and more companies in the Silicon Valley being founded and led

by Indian entrepreneurs, we wanted to establish an organized forum that would

help bring together the local venture community and this growing number of

Indian business leaders."

The Silicon Valley chapter's executive committee includes representatives

from venture capital firms such as Battery Ventures, Silicon Valley Bank, Walden

International, Vertex Management and INC3 ventures.

"Venture capitalists and Indian entrepreneurs are playing a significant

role in the creation of new ideas and technologies that have driven much of the

economic growth of our region," said Battery Ventures, General Partner,

Ravi Mohan. "I am thrilled to be part of an organization whose ultimate

goal is to help assure that this growth continues."

IVCA is India's umbrella association of VC Funds and represents around 40

venture capital and private equity firms.