Bessemer Appoints Devesh Garg As A Managing Director In India
Fri, 10/19/2007 - 04:50 — Sahad P V
Bessemer Venture Partners, the US venture capital fund which recently earmarked $350 million for India from its latest $1 billion fund, has appointed semiconductor industry veteran Devesh Garg as a Managing Director of its India practice. Garg joins nine others including five partners in the Mumbai team of Bessemer, one of the oldest US venture capital firms.
He joined Bessemer in 2003 as an Operating Partner, and was also most recently the founding CEO for the Bessemer-funded semiconductor start-up, Tilera. Prior to joining Bessemer, Garg has worked in companies like Broadcom, Synopsys, LSI Logic, National Semiconductor, Bechtel, and Raychem.
Bessemer had recently closed a $1 billion global fund with $350 million earmarked for investments in India. Since opening the India office in 2003, Bessemer has invested in 17 Indian companies which include broking firm Motilal Oswal, hospitality chain Sarovar Hotels, air conditioning components company Lloyd Electric & Engineering, and auto components maker Rico Auto, engineering services company Shriram EPC.
