VC giant New Enterprise Associates to go slow on India investments

Photo: Mint

New Enterprise Associates (NEA), a giant in the global venture capital (VC) business, with more than $20 billion in management, will manage its investments in India from the US, go slow on its India investments for some time, and perhaps co-invest along with local venture firms as it revisits its India strategy.

NEA’s decision, which comes after a decade of strategy and personnel changes, is similar to that of Draper Fisher Jurvetson (DFJ) and Kleiner Perkins, two iconic Silicon Valley VC firms that exited India in the first part of this decade, underlining the difficulties that start-up investors have faced in an internet market that looks attractive on paper but is yet to live up to its billing.

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