These days Kleiner Perkins Caulfield & Byers’ (KPCB) home page shouts out ‘In Search Of The Next Big Idea’. The firm’s deal run in India from January through June would suggest that this market is a part of that big search — four out of the 13-odd early-stage investments by venture capitalists in India during the first six months of 2008 are KPCB deals, in partnership with Sherpalo Ventures. Incidentally, KPCB is yet to house a local team in India — it has two offices in China — and prefers instead to co-invest with its preferred local partner Sherpalo, led here by Sandeep Murthy. KPCB-Sherpalo’s first deal in India was Info Ege, owner of jobs portal Naukri in May 2006 — $6 million for a 5 per cent stake. Some people might remember the legendary John Doerr (he has backed Google and just about every other notable technology company in Silicon Valley) being in Mumbai briefly to announce the deal and KPCB’s intent for India.
Scroll down for the details on KPCB’s four bets in India this year and the remaining nine early-stage deals done by other investors. If I have missed any, please let me know:
January 07, 2008: Education portal StudyPlaces raised $3 million in Series A funding from KPCB, Sherpalo Ventures and Info Edge India.