WestBridge raises $200 m for 2nd fund

WestBridge Capital Partners on Wednesday announced that it recently closed its second fund, WestBridge Ventures II, LLC with $200 million in commitments.

WestBridge will continue to focus on high growth companies that target both domestic and export markets across a variety of sectors including outsourced services, information technology, healthcare and internet.

WestBridge Capital Partners is a Mauritius based, leading Indian venture capital fund with approximately $350 million under management. The SUN Group is a strategic partner of WestBridge.

According to a press release, Sumir Chadha, co-founder and Senior MD said, "We are pleased to announce a successful close to our fund raising efforts for WestBridge Ventures II. The fund was highly oversubscribed with strong interest both from existing investors in Fund I as well as many top tier US endowments and foundations. With this new fund we are looking to strengthen our market position going forward."

"We are seeing a significant number of high quality investment opportunities in India across domestic services, outsourcing and technology, and we expect to maintain or increase our investment pace of 4-5 new investments every year. We are proud of our partnerships with the management teams that we have backed," said KP Balaraj, co-founder and MD.

WestBridge Capital Partners currently manages a portfolio of 16 companies across India domestic services, IT and outsourcing. Many of these companies are perceived as leaders in their sectors.

The new fund will be managed by five Managing Directors "� Sumir Chadha, KP Balaraj, SK Jain, Rishi Navani and Sandeep Singhal "� all of whom have worked together for several years in Fund I.