PRINT THIS PAGE Bessemer Venture Partners VII closes on $1bn20/07/2007. Source: AltAssets. 
 US venture capital firm Bessemer Venture Partners has closed its latest fund, Bessemer Venture Partners VII, on about $1bn. Of the total amount $350m is dedicated to investment in India.
Investors in BVP VII include the firm's longstanding limited partner Bessemer Securities Corporation, the Phipps family office.
In connection with the new fund, Bessemer has added a number of senior professionals to the India team, including Anil Sarin (former co-head of equities at Prudential ICICI Asset Management), Sridar Iyengar (former chairman and CEO of KPMG India and former president of TiE), Mandeep Khaira (former senior executive of Dell India) and Yagnesh Sanghrajka (former global CFO for HTMT, a subsidiary of the Hinduja Group).
Ed Colloton, a managing partner at BVP, said, 'Our mission has always been to find the best high growth companies, wherever they might be located. We think that means having a strong on-the-ground presence in a number of key markets in order to identify the best deals globally. Bessemer is one of the first venture firms to have built a truly global platform.'
Rob Chandra, a managing partner at BVP, added, 'Just as we saw the long-term opportunity when we went to Silicon Valley in the 1970s, we see a similar opportunity in India driven by the growth in middle class prosperity and innovation.'
BVP has offices in Silicon Valley, Boston, New York, Mumbai and Shanghai.
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