Business / Industry Sectors
Canaan Partners reviews investment strategy in India; Looks for partners in US, Israel and India
14/07/2014
The venture capital firm is believed to be looking for a global partner to help them re-invent their investment strategies in India.

Canaan Partners is looking to review its investment strategy in India amid rumours of cessation of its operations in the country. The firm is currently in discussions with its global partners across the US, Israel and India to take a re-look at its strategy to remain relevant to the Indian market.


Canaan, which set up shop in India in 2006 and has since invested nearly $200 million in firms including Bharatmatrimony.com, legal process outsourcing firm UnitedLex and technical support start-up iYogi, is also exploring the possibility of setting up an India-specific fund that would raise money from local investors.


“At Canaan, we have built partnerships with entrepreneurs who we feel are very proud to be associated with. We will continue to back and support those relationships, both institutionally and personally,” said, Mr. Alok Mittal, managing director of Canaan Partners, who has recently announced his exit from the firm.


Mr. Mittal will disassociate himself from fresh investment activity of the Silicon Valley VC firm in the country, while he will continue to manage the firm’s existing investments in India.

 

Mr. Mittal is planning to launch a startup while at the same time continuing to support Canaan’s portfolio firms, he told Techcircle.in.

 

Source: Techcircle.in & Live Mint

 

Register your company in our INDEX OF COMPANIES

 


 


Have comments? Write to us | Send to a friend | Print |
Share |
ad
ad
ad
ad
ad
ad