| The firm, which has Pramod Haque as its managing partner, will have investment professionals on the ground hunting for blockbuster ideas from India. |
| Said Promod Haque, who is a regular on the Forbes Midas List: "We should be having our office in India ready by early next year. Most probably it might be Bangalore, but we haven't yet finalised it. We are planning to have two investment professionals on the ground who will actively work on the investments which will hasten our decisions." |
| This presence in India is expected to reduce the load on Haque, who as of now has a habit of making a trip to India every 45 days. |
| NVP has funded over 400 companies since inception, including more than 20 crossborder companies, and several direct investments in India. |
| Recent NVP transactions include Airespace (acquired by Cisco Systems), Resonext Communications (acquired by RF Micro Devices), Spinnaker Networks (acquired by Network Appliance) and Winphoria Networks (acquired by Motorola). |
| NVP has also funded such market leaders as Actel Corporation, Brocade Communications, Cerent (acquired by Cisco Systems), Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), PeopleSoft, Persistent Systems, Tivoli Systems (acquired by IBM). |
| With this kind of a background, NVP, backed by Wells Fargo Bank, is actively scouting for deals in sunshine sectors such as semiconductor and components, systems, software, services, knowledge process outsourcing besides consumer/internet technologies. |
| Speaking on the uptake in consumer internet in India, he said the internet usage in India was dramatically increasing each month. |
| "Broadband adoption in India has been showing signs of explosive growth since mid-2005, and according to various research, it is growing at a rate of 30 per cent a quarter. This is one of the crucial barometer for the Web 2.0 to deliver results and we as VCs are upbeat on this," he added. |
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