IDG Names India Head

BANGALORE, India -- IDG Ventures, a global family of venture capital funds affiliated with International Data Group (IDG), today announced the appointment of Mr. Sudhir Sethi as Managing General Partner of IDG Ventures India, which manages a recently established $150 million venture capital fund.

"We believe the rapid increase in the market for technology products and services in India, combined with the entrepreneurial spirit and talent of its people will create an extremely bright future for venture capital investing in India," said Patrick J. McGovern, Founder and Chairman of IDG. "This is the reason that we decided to establish the IDG Ventures India Fund as the newest member of our global family of funds, which together manage US$1.4 billion of venture capital in the U.S., China, Vietnam, and now India."

"I am delighted that Sudhir Sethi has decided to become the Managing General Partner of the team that will manage the IDG Ventures India Fund. Sudhir is a recognized leader in both the technology as well as venture capital industry in India. Sudhir has, in turn, appointed an experienced team of Venture professionals," continued Mr. McGovern.

According to Mr. Sethi, "India provides a unique opportunity for investors in early-stage and growth-stage companies with a technology focus. The IDG Ventures India Fund will primarily invest between US$ 0.5 and 5 Million in early-stage technology companies and opportunistically up to US$ 10 Million in compelling growth-stage companies. These companies will be in IT and BPO services, design engineering, electronics and hi-tech manufacturing, consumer internet and digital media, product application software, semiconductors, telecom and value-added mobile services, financial services, and other emerging technology-enabled areas."

IDG Ventures Europe