Jaithirth (Jerry) Rao has been appointed venture advisor by US-based venture capital firm New Enterprise Associates (NEA). Founded in 1978, NEA has approximately $8.5 billion in committed capital across 550 companies.Ever since he sold the majority stake in MphasiS to EDS in a $350 million deal, Jerry Rao has been carefully building up a string of investments on a personal level through the angel investor route. Rao is understood to have invested in at least 20 companies in India ranging from wine firms to legal process outsourcing companies.According to a statement issued by NEA, Jerry Rao and Amit Sharma have joined NEA India to expand its scope of operations. "Both Rao and Sharma bring to NEA India substantial operational expertise and a long history of successful entrepreneurship to support the growing portfolio of India-based technology companies within NEA's affiliated funds," the statement added.NEA India has invested in companies like Sasken, ISGN Technologies and Novatium.Amit Sharma is currently serving as executive vice president and president, Asia, American Tower Corporation. Sharma was earlier with Motorola where he led teams in India and South East Asia.NEA, in addition to its direct presence in India which looks at growth capital, is also a significant investor in another India focussed $180 million venture capital fund NEA-IndoUS Ventures. This fund is led by Vinod Dham who was part of the team that first developed the Pentium processor at Intel."In bringing Jerry and Amit on board, NEA has further demonstrated its commitment to financing and building thriving companies in India," said Ben Mathias, vice president, New Enterprise Associates (India). Jerry's long history of successful entrepreneurship in the consumer finance and business process outsourcing sectors will make him a highly valued advisor to companies in the portfolios of NEA's affiliated funds. Similarly, we are very excited about the tremendous wealth of experience Amit brings, particularly in the telecom sector here in India, and will look to him as a key advisor in this and related areas."In addition to his role at NEA India, Rao will continue to be on the boards of Puravankara Projects, IDFC Private Equity, Royal Orchids Hotels and Lotus India Asset Management Company.
