Early stage investment firm Naya Ventures has completed a first closing for its INR2.5bn ($50m) fund.
Headquartered in Dallas, with offices in Silicon Valley, Seattle and Hyderabad, India, Naya focuses on mobile technology and cloud-based companies.
The firm is led by former Microsoft executive Dayakar Puskoor, whose background includes founder and CEO of JP Mobile and M2 Junction; Prabakar Reddy, co-founder and CIO of Risemart and managing director of ANSR Group; and Gowri Shankar, CEO of SinglePoint Technologies and a founding member of the Sprint PCS launch team,.
“We’re pleased that these investment partners have joined us and see the value in our unique approach,” said Puskoor, who serves as general and managing partner for the fund.
“We are not a traditional incubator model, nor a traditional venture capitalist; we consult with our portfolio companies’ management teams to identify areas in which Naya can help and go beyond opening doors for our portfolio companies.
“We do all that we can to build value. All of our portfolio companies have benefited by Naya’s connections in getting strategic deals and partnerships, and kickstarting revenue.”
In operation since 2011, Naya’s current portfolio consists of seven companies in the mobile and cloud market. These include BoxFish, Zoomingo, Glympse.
Co-investors in Naya portfolio companies include Menlo Ventures, Benaroya Capital, Seapoint Ventures, Intel Capital, Deutsche Telecom Ventures, Ignition and Rally Capital.
Its relationships also provide Naya with an extensive deal sourcing and follow on funding capability.
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