VCCircle

CNBC-TV18 has an interview with Michael Moritz (top) and Sumir Chadha (below), the partners with Sequoia Capital (I missed the live show). Moritz, an ex-journalist with Time magazine, joined Sequoia in 1986. He is known for spotting Google.

Chadha started Westbridge Capital Partners, an India-focused venture capital fund, in 1999, which got merged with Sequoia Capital last year.

Both Moritz and Chadha are upbeat about making investments in India across the sectors and stages. A couple of points of note on the internet media. According to Chadha, there aren't enough online media inventory. He says, "The advertisers are fighting over the immediate amount of inventory and today there are not enough web pages. So, the real problem in the internet today is lack of connections and lack of users and we really need to see the government push some major regulations in terms of broadband reforms to get that going. But advertisers are very excited about internet in India today. In fact, a lot of our companies are seeing very strong ad sales and we expect that to continue."

Moritz adds: "As broadband proliferates in India and mobile telephony expands, internet-based media companies are going to be much more of a force in this country as well." He said that a lot of big media companies like Dow Jones missed the internet bus, and they will have to pay the cost now.

Meanwhile, Chadha dismissed that Minglebox and Fropper are two competing properties. Sequoia Capital India recently invested in social networking site Minglebox, while it already had investment in People Group, which owns Shaadi.com and the dating site-turned-social networking site Fropper. He says: "We do not back competitors, so we look at these properties (Minglebox and Fropper) even that they may appear from the outside to be competitive - they have very different focuses, very different user bases and we are seeing a lot of growth in that sector."