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Tag: Avnish Bajaj

  • Iamai to organise digital summit later this month

    Iamai to organise digital summit later this month

    MUMBAI: The Internet and Mobile Association of India (IAMAI) is organising the India Digital Summit 2007 on 18 and 19 January 2007 in New Delhi. This will look at the progress the internet and mobile are making.

    The organisation notes that the internet has ushered in a quiet but definite revolution at homes, offices and cyber cafes in India and changed the way we look for content, communicate or undertake commercial transactions. Whether it is through the PC or the ubiquitous mobile device, internet and wireless based technologies are transforming the socio-economic fabric of India in ways that we never thought of before.

    The combination of technologies and devices have for the first time thrown open the possibility of acting as a great leveler making it possible to ‘walk the talk’ on empowerment and inclusiveness. Communications, availability of content and commercial transactions are much more efficient. cost effective and pervasive due to these technologies.

    The speakers at the seminar will include People Group chairman Anupam Mittal, eBay India chairman Avnish Bajaj, On Mobile CEO Arvind Rao, ACL Wireless persident Atanu Mandal and Connecturf MD and CEO Neville Taraporewala.

    The first day looks at the internet. The topics are the driving forces of the Internet in India, how businesses can use it, what the net can offer and the role of the youth in driving net uptake. The second day looks at the mobile in terms of value added services. The speakers will look at what makes a successful mobile marketing company in India. then theer is the issue of forces that are driving adoption beyond metroplolitain cities.

    The panellists will also look at whether the policy environment is right for mobile value added services industry.

  • Matrix Partners India invests in Four Interactive

    Matrix Partners India invests in Four Interactive

    MUMBAI: Matrix Partners India (MPI) has invested in a mode startup Four Interactive.

    MPI claims to be India’s first consumer services risk capital fund and focuses on early to growth stage businesses in the Internet, mobile, financial services, media and entertainment, food and beverage, hospitality, healthcare, travel and leisure sectors.

    MPI co-founded by Avnish Bajaj and Rishi Navani with Matrix Partners US, strives to be the trusted partner providing risk capital to build market consumer services companies. With this investment, Rishi Navani has joined the Board of Directors of Four Interactive, informs an official release. Four interactive founded by Kiran Konduri and Shriram Adukoorie.

    Navani said, “We are excited to partner with Kiran and Shriram, who bring a diverse set of experiences and complementary skills that form a strong foundation for the company.”

    Konduri said, “In Matrix we found a partner with common values and beliefs. Our partnership is focused on building easy to use services that are at the intersection of mobile,content and the web.”

    Adukoorie said, “Internet adoption is at the cusp of an inflection point in India. At Four Interactive we have set ourselves a simple goal of making the net more useful, relevant and inclusive for Indians.”

    Kiran Konduri was previously at Microsoft and has founded two companies’ including Zephyr Software, which was acquired by Infospace. Shriram Adukoorie has been with Microsoft for the last decade and was previously country head for MSN India and South Asia. Most recently he managed Microsoft’s portal in the Asia region.

  • Matrix Partners launches $150 million consumer services risk capital fund

    Matrix Partners launches $150 million consumer services risk capital fund

    MUMBAI: Matrix Partners India, co-founded by Avnish Bajaj and Rishi Navani in partnership with Matrix Partners US, today announced the closing of its first fund.

    The $150 million, multi-sector, multi-stage fund will focus on early to growth stage businesses in the internet, mobile, financial services, media and entertainment, healthcare and travel and leisure sectors.

    The first fund of its kind in India, it aims to partner with entrepreneurs to build market leading companies in the consumer services domain. The fund was heavily oversubscribed and current investors in the fund include leading US university endowments and family foundations.

    “Matrix Partners is the first leading venture capital firm to establish a fund in India. The Indian economy is in a very exciting phase and Matrix Partners’ is looking forward to participating in the region’s growth story,” said Matrix Partners US founding partner Paul Ferri.

    “As co-founders of Matrix Partners India, Avnish and Rishi bring incomparable experience in working with India-based companies in the consumer services sector. We have the ideal team in place to help Matrix Partners continue its strong legacy of building the best-performing companies and long-term relationships with talented entrepreneurs,” said Matrix Partners US managing partner Timothy A. Barrows.

    Domestic entrepreneurs would benefit from the rich experience of the Indian founders and the strong company-building expertise of Matrix Partners US. Bajaj’s entrepreneurial experience (co-founder, chairman and former CEO of India’s largest online marketplace Baazee.com, acquired by eBay) and Navani’s venture and domain experience (former managing director at WestBridge Capital Partners) provides the ideal background to help entrepreneurs realise their ambitions. Matrix Partners US also brings to bear its experience as the top performing venture firm over the past two decades with assets under management of more than $3 billion.

    Matrix Partners India founding managing director Avnish Bajaj said, “Matrix Partners India is focused on presenting a unique proposition to the emerging businesses in the consumer services sector. We believe that the founding team has an unparalleled competency to recognize and support potential market leading companies in this sector. By leveraging on Matrix Partners’ proven approach to investing, we are determined to emerge as the trusted partner of choice for Indian entrepreneurs.”

    “The domestic consumer services industry is the key driver of India’s Gross Domestic Product growth. The industry is set to witness an era of innovative business models and significant value creation. We are delighted to partner with Matrix Partners, and appreciate the overwhelming support from our marquee investor base,” added Matrix Partners India founding managing director Rishi Navani.

  • IAMAI appoints Anupam Mittal as chairman, Subho Ray as president

    IAMAI appoints Anupam Mittal as chairman, Subho Ray as president

    MUMBAI: The Governing Council of the Internet & Mobile Association of India (IAMAI) has announced a change of guard at the association with effect from 1 April, 2006.

    People Group chairman and managing director Anupam Mittal has been appointed as the chairman and CII ex-director IT and telecom Dr. Subho Ray as the president of IAMAI.

    While Mittal takes over from Neville Taraporewalla, Dr. Ray takes over the mandate from Preeti Desai.

    The association also announced the appointments of ebay India CEO Avnish Bajaj as vice chairman and Times Internet CFO Ravi Ramu as its treasurer.

    Commenting on the new role as the chairman of IAMAI, Mittal said, “Under the able guidance of Neville and Preeti, IAMAI has played a significant role in organising and bringing together the internet and the mobile industry towards a common vision and agenda. IAMAI now enters its third year as an association and it is important to recognise how much has been achieved in the last two years. The association has gone from an idea to the most credible authority on the Internet and Mobile VAS industries in this country. The foundations have been laid to collectively build one of the leading digital and networked economies of the world.”

    Mittal outlined the three areas that IAMAI will work towards in the coming months:

    Play the role of a thought leader (research, events, networking) to further spur Internet usage and ecommerce growth in India
    Generate awareness amongst consumers and government of the economic as well as social benefits of broad based Internet usage
    Proactively address challenges and hurdles that can hamper the growth of what is perhaps one of the most transformational opportunities of our time
    “I am honored to be nominated for this position and am looking forward to working with and learning from pioneers such as Dr. Subho Ray, Ravi Ramu and Avnish Bajaj,” he added.

    Dr. Ray added, “Ecommerce and MCommerce and mobile content are some of the most exciting sectors today in India. Proliferation of Internet and Internet access through mobile communications has the potential to bring a wide range of financial transactions to an entirely new customer base. IAMAI will play a crucial role in channelising the digital economy’s effort and communicate its true potential for social and economic development. We will continue our concerted efforts of bringing 100 million Indians online by 2007 and empower society and businesses to benefit from the time and cost savings offered by the Internet.”