Private equity firm Bessemer Venture Partners (BVP) has announced promotion of Vishal Gupta as director of the Mumbai-based BVP India. Gupta will now be responsible for managing the team's operations as well as making investments. BVP closed its seventh fund at $1 billion in 2007, and allocated $350 million out of that for Indian investments. Last year it also announced a 14 person team for India, headed by Sridar Iyengar, previously the Chairman and CEO of KPMG India.
Gupta sits on the board of BVP's India portfolio companies NetAmbit InfoSource and Orient Green Power. He has also contributed to several of the firm's investments, including Motilal Oswal Financial Services, Shriram EPC, Shriram City Union Finance, and Orient Green Power. Prior to joining BVP, Gupta was at Reliance Group, said a release fom the company.
"We are delighted to welcome Vishal into the partnership. His combination of business acumen, energy, insight, and humor will be very effective as we help our portfolio companies navigate the challenging financial environment," said Rob Chandra, a partner with Bessemer Venture Partners.