US Based VC Fund NEA launches $375 million fund for India

The America based Venture Capital Fund New Enterprise Associates Inc. has recently announced that it has raised total of 2.5 Billion US dollars in its 13th fund that will primarily target Emerging Markets.

15% ($375 million) of the overall 2.5 billion dollars are earmarked specifically for Indian Companies.

NEA-IndoUS venture was first started in India in 2006 by Vinod Dham, Vani Kola and Kumar Shiralagi, when NEA had no direct presence in India, raised $189 million in 2007 and invested in companies like Myntra, mGinger and Seventymm.

The fund of $375 million will be invested over 4 years and will be looking at deal size between $30 to $80 million. The fund will primarily target Growth stage Indian companies only.

The new fund will drop NEA from its name and now will be called “IndoUS” only.

[source]

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Author: News Editor

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