Matt Marshall, investigating the anemic growth of American startups think that a lot of VC money is now going overseas, especially to India and China.
That said, Battery Ventures, which has offices in San Mateo, raised a $450 million fund in September, and recently led it’s first investment in India: $15 million in Bangalore’s Tejas Networks, which is developing optical networking products in the Indian market for a fraction of what American companies do, says partner Thomas Crotty. Battery hopes to help it expand into the U.S market with the help of a partnership with Nortel, he said. Matrix Partners, another big-name firm with offices in Menlo Park, also recently opened an office Bangalore to start investing there. They plan on about one or two a year. Stay tuned as we follow this trend — unfortunately, there are no great statistics out there that reliably quantify it. [Is VC money going abroad?]
A blogside view of the Indian economy
A selection of this week’s posts
Yazad Jal and Chandrachoodan celebrate Ayn Rand’s 100th birth anniversary, but Amardeep Singh points out that there is reason not to be too excited about it.
Kautilya is unimpressed with the Indian government f…