Norwest eyes tie-ups for portfolio firms

MUMBAI

It is the turn of product companies to leverage India not just in terms of development but in terms of deployment. Norwest Venture Partners (NVP), a 42-year-old venture capital firm which has funded more than 350 companies, is now leading seven of its US-based technology companies to develop relationships with Indian businesses.

Norwest Venture Partners managing partner Promod Haque said that the Indian telecom market is already the fifth largest and is touted to become the third largest market five years from now. The Indian IT sector is growing very fast and the Indian outsourcing industry presents a huge market opportunity. Keeping these factors in mind, the goal for NVP, he said is to allow Indian telcos, resellers and distributors to engage in a dialogue with companies in NVP’s portfolio.

NVP partner Vab Goel said, “I believe we are in ‘year nine’ of a 25-year infrastructure shift. The world of technology today is re-inventing itself with a wealth of new providers whose innovations will constitute the second wave of the technology revolution.