VCCircle

WestBridge Capital Partners already enjoys a cosy relationship with Silicon Valley's bluechip VC firm Sequoia Capital. WestBridge had co-invested with Sequoia in Bharti Telesoft and in Mauj Telecom too. So all that was some informal arrangement with Sequoia. WestBridge was acting like a guide for Sequioa in Indian market. Now it seems the relationship may take some formal turn.

The Economic Times reports (but yet to be endorsed by the firms invloved) that WestBridge may launch an India-dedicated fund or direct some of Sequoia’s existing funds for investment in India. It further says if a new fund is raised specifically for India, Westbridge’s existing founders and management team may become its General Partners. On the other hand, if an existing fund of Sequoia is given to manage, Westbridge may command management fees, ET reports quoting source.

WestBridge already has $350 million under management. The firm is also believed to be talking to another venture fund Greylock Venture Partners for their India investments. In any case, Sequoia definitely needs help in India. I am not sure if WestBridge would go in for another India dedicated fund with them or if it wants to manage the fund for Sequoia. Either way, WestBridge may need people. It currently has four partners, and another four senior execs at VP level or so. Former Bharti mobile content executive Mohit Bhatnagar is also tipped to join.