battery-ventures-to-open-india-office

Battery Ventures to open India office

Recently promoted partner Ramneek Gupta will move to Mumbai to set up the venture capital firm's India office by year end.
US-headquartered venture capital and private equity firm Battery Ventures is opening an India office which will be headed by BatteryÆs partner Ramneek Gupta.

Gupta will move to Mumbai from California to start the office by the end of 2008. He was promoted to partner recently alongside three other people promoted to principal at the investment firm.

Gupta is responsible for the firmÆs current India investments in: Tech Process, a transaction and payment processing services firm; Tejas Networks, an optical networking products supplier; Travelguru, a web-based travel agency; and Mumbai-based High Mark Credit Information Systems, a technology platform in India to help financial institutions make better credit decisions.

Gupta joined Battery in 2006 and currently has a focus on investments related to India in the technology, financial services, media, education and specialty retail sectors. Before he joined Battery, Gupta spent over three years as a principal at ITU Ventures, an investment firm specialising in technology businesses. At ITU Gupta looked at the communications and semiconductor sectors. Gupta has also been a design engineer at TiVo and worked with PMC Sierra.

Battery has raised nearly $3 billion since it was founded in 1983 and is currently investing its newest fund, BV VIII, which is $750 million. It is active in the US, Canada, Israel, India, China and Europe through offices in Boston, the Silicon Valley and Israel.

Battery provides amounts ranging from seed capital up to $100 million. It has an extended network of strategic institutional investors û such as AT&T, Bank of America, Corning, Cox Enterprises, General Motors, Liberty Mutual, Oracle, Nortel Networks and Verizon û which it has been able to tap to develop its portfolio companies.
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