The Silicon Valley based Bessemer Venture Partners who already invests in some of the companies in India, is planning to invest another $40 to $50 million in the country this year.
The company that is best known for its investment in companies such as professional social network LinkedIn and restaurant directory player Yelp, is looking for opportunities in the growing healthcare and financial technology.
“We are more selective than spray and pray. Investing pace in India is business as usual. In the last 18 months we have backed five new companies.” says Vishal Gupta who manages the firm’s operation in India.
Silicon Valley has previously invested $700 million in 47 portfolio companies over the last decade in India.
The venture capital firm is all prepped up energy with Anant Vidur Puri and Hrishikesh Arjun Nair joining as a vice president and senior analyst of the company respectively.
The firm has added some new companies such as food delivery startup Swiggy; payments company Innoviti; Perfios, which offers an analytics tech platform to more than 100 banks; and healthcare application DocsApp and have also backed out from portfolio companies such as classifieds portal Matrimony and electrical power marketplace Indian Energy Exchange.
The capital investor is reported to start the investment with amount of $5 million and then raise it upto $50 million across rounds.
“Our investment strategy is making a few but concentrated bets,” says Vishal Gupta.
The firm has been consistent in backing up early startups in the technology field, since the sector is showing excellence since past few years.