Press Trust of India / Silicon Valley January 18, 2007
In its first set of direct investment in India, Mayfield Fund has invested in Tejas Networks, a provider of next-generation optical networking products for global markets, and in Seedfund, a seed stage technology venture capital firm.
In a statement issued today, Mayfield, which is based in Silicon Valley, said these developments are the result of an overall India investment strategy that began five years ago, with the firm's involvement in the offshoring activities of portfolio companies.
The latest moves capitalise on the continued investment opportunities in India and reflect the expertise of Mayfield's newest MD, Navin Chaddha, who has made over 10 direct investments in India in the past.
Following the investment, Navin Chaddha will join the Bangalore-based company's board of directors.
Although Mayfield has in the past invested in companies whose development centers are in India, this announcement marks the venture fund's first direct foray into an Indian company.
"Our first direct investments reflect our belief that the rocketship of India investments is off the launch pad," Chaddha said.
Mayfield's Yogen Dalal, said "Today's direct investments reflect our calculated strategy to invest in India's burgeoning consumer and technology sectors."
Mayfield Fund to bankroll Tejas, Seedfund
Press Trust of India / Silicon Valley Jan 18, 2007, 12:32 IST
Content Guide
