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New York-based venture capital firm Bessemer Venture Partners has elevated Abhijeet Muzumdar and Sarah Tavel to vice-president’s positions, the company has said in a statement.

Prior to the promotion, Muzumdar was working with BVP India in Mumbai. Since joining the firm in 2009, he had been closely involved with a number of investments, namely, BharatMatrimony.com (Consim), Snapdeal.com, Home First Finance Company and Dhanlaxmi Bank. Before joining Bessemer, he was a senior manager at Edelweiss Capital where he worked with the investment banking team. He had also been a part of New York’s KPMG (corporate finance team) and worked with UBS (investment banking). Muzumdar holds a master’s degree in Commerce from the University of Mumbai and did his MBA from Adelphi University’s Hagedorn School of Business.

Sarah Tavel joined Bessemer in 2006 and works at the Menlo Park office. She currently focuses on software and Internet sectors, and has been closely involved in investments made into consumer Internet company Pinterest, Microsoft SharePoint migration solutions provider Metalogix, leads generator Yodle, learning & talent management company Cornerstone OnDemand (IPO), e-commerce site Onestop, energy management company CPower (acquired by Constellation Energy), SaaS online marketing company Convertro, business software company MindBody Solutions and leading Russian e-commerce company KupiVIP.

Prior to joining Bessemer, Sarah was a consultant with the Kerdan Group, a strategy consulting firm, where she focused on the pharmaceutical and medical device industries. Previously, she had founded a general contracting business that she ran for two years while in college.

“Abhijeet and Sarah are both tremendous talents and valuable contributors to our investment team, and we look forward to their ongoing contributions as BVP continues to look for innovative companies and talented entrepreneurs,” Bessemer Partner Ed Colloton commented on the promotions.

Incorporated in 1911, Bessemer Venture Partners is a venture capital firm focusing on seed-stage investments, start-up companies, early venture, late venture, emerging growth and growth capital. The firm prefers to invest in North America, India, Europe, Israel and Latin America. It typically invests in the range of $4 million-$10 million, occasionally makes small seed-stage investments and can go up to $50 million growth equity transactions.

In April 2011, the firm announced the closing of Bessemer Venture Partners VIII, a $1.6 billion venture capital fund that will sustain the company’s focus on investing in and partnering with innovative, high-growth companies across multiple industries and geographies.

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