ivate equity financing during the quarter ended June 2005.
| |
| According to data from TSJ Media, which tracks venture capital and M&A activity involving Indian-founded companies worldwide, out of the 32 such companies which raised financing during the quarter, at least 16 companies closed rounds of $10 million or more.
|
| |
| "The investments in Indian-founded companies in the US during the latest quarter was lower than that during the same period last year when 33 such companies had raised over $535 million), but higher than that raised in the January-March 2005 quarter (which had witnessed 24 investments totaling about $232 million)," said Arun Natarajan, Editor, TSJ Media.
|
| |
| The largest single investment during the latest quarter was the $35 million second round raised by Yatish Pathak founded SOMA Networks, Inc., a San Francisco, CA-based provider of last-mile broadband wireless access technology. The late-stage round was led by Temasek Holdings and Morgan Stanley Venture Partners, with participation from NeoCarta Ventures and Endeavour Investments.
|
| |
| The second largest investment during the period was the $20 million fourth round raised by Sujal Patel co-founded Isilon Systems, a Seattle-based provider of clustered storage systems. The latest round was led by Focus Ventures with participation from all existing investors including Lehman Brothers, Sequoia Capital, Atlas Venture and Madrona Venture Group.
|
| |
| The third slot was shared by four firms which raised $15 million each: Prashanth Viswanath Boccasam founded Approva Corp., Sangam Pant co-founded TargetRx, Dr Bhairavi Parikh and Rajiv Parikh co-founded Aperon Biosystems Corp. and Ashraf Dahod co-founded Starent Networks Corp.
|
| |
| Among Mergers & Acquisition deals, Dr. Amit P. Singh and Balraj Singh co-founded Peribit Networks, a Santa Clara-based provider of WAN application performance products, agreed to be acquired by Nasdaq listed Juniper Networks for about $337 million in cash, stock and assumed stock options.
|
| |
| Juniper competitor Cisco Systems acquired two Indian-founded companies during the latest quarter: Nat Kausik and Jay Jawahar co-founded FineGround Networks, a provider of network appliances (for about $70 million in cash and options) and George Varghese and Sumeet Singh co-founded NetSift, Inc., a San Diego-based developer of content processing technology focused on high-speed networking and security for about $30 million. |
| |
|
| |
