“We are a long-term, patient investor; if you have to build world class companies, it does take time,” believes Bessemer Venture Partners, India
How supportive is Bessemer when it comes to individual business ideas?
Oh! very supportive, our culture, our history in the United States is very centric towards that. So in terms of practice, we are comfortable with doing that and we have done it in India as well. For example, BA systems or Sunil hi-tech. If we find an entrepreneur and an idea that we think has all the merits of a top rated investment, we will do that in India. BA systems is an example of taking an idea we believed in, forward. He (the promoter) has created the ‘First Made in India Router’ EN 3500 and is doing well.
Your advice for Indian entrepreneurs who are looking for funds?
Markets today in India are at an early stage. An average Indian promoter is very inexperienced when it comes to dealing with PE/VC. It’s hard for them to distinguish between a Hedge Fund money–typically hot money–and long term capital (a PE or a VC). They think that a dollar is a dollar. An entrepreneur/promoter should be careful from whom to take money. They should find somebody who has value-added capabilities, somebody who has a successful investing background, somebody you know is going to be with you for the long run. Businesses too undergo cyclical ups and down. You have periods of rapid expansion, then possible sluggishness. So, in case of a slowdown, if the investor pulls out the plug, you (the investee) are gone.
Can you quantify Bessemer’s returns in previous years?
Well, I won’t get into specifics, but name a fund that has so many IPOs to its credit. More than 100 of Bessemer’s portfolio companies have gone public on exchanges from the NYSE and NASDAQ to London’s AIM and India’s BSE. That says it all.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
How supportive is Bessemer when it comes to individual business ideas?
Oh! very supportive, our culture, our history in the United States is very centric towards that. So in terms of practice, we are comfortable with doing that and we have done it in India as well. For example, BA systems or Sunil hi-tech. If we find an entrepreneur and an idea that we think has all the merits of a top rated investment, we will do that in India. BA systems is an example of taking an idea we believed in, forward. He (the promoter) has created the ‘First Made in India Router’ EN 3500 and is doing well.
Your advice for Indian entrepreneurs who are looking for funds?
Markets today in India are at an early stage. An average Indian promoter is very inexperienced when it comes to dealing with PE/VC. It’s hard for them to distinguish between a Hedge Fund money–typically hot money–and long term capital (a PE or a VC). They think that a dollar is a dollar. An entrepreneur/promoter should be careful from whom to take money. They should find somebody who has value-added capabilities, somebody who has a successful investing background, somebody you know is going to be with you for the long run. Businesses too undergo cyclical ups and down. You have periods of rapid expansion, then possible sluggishness. So, in case of a slowdown, if the investor pulls out the plug, you (the investee) are gone.
Can you quantify Bessemer’s returns in previous years?
Well, I won’t get into specifics, but name a fund that has so many IPOs to its credit. More than 100 of Bessemer’s portfolio companies have gone public on exchanges from the NYSE and NASDAQ to London’s AIM and India’s BSE. That says it all.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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