UK-based technology venture capital firm Amadeus Capital Partners has set up its first office in India in Bangalore and will soon announce its first investment in a business with operations in India.
The venture capital firm, with some £500 million of assets under management, has also appointed Bhavani Rana, who was until recently investment director at Intel Capital, as a partner to lead the team in India.
Rana, an experienced venture and private capital investor, spent around 14 years with Intel Capital and scored several IPOs and M&A deals including Speakeasy, Clearwire, PGP Corp, Deccanet Designs and Nipuna.
A chartered accountant, he joined Intel Capital in 2000 in India. Prior to that he worked with ASG-Omni, an early stage incubation firm focused on technology investments in India. In the past he has also worked with Arthur Andersen advising clients in the telecom and power sectors in India.
Founded in 1997, Amadeus Capital Partners has made more than 90 investments in industries ranging from communications and networking and software, to e-commerce from 10 funds totalling over $1 billion in cumulative commitments.
The firm, which was co-founded by Hermann Hauser, has a presence across the US, Sweden, South Africa, Brazil and now India.
In 2013, Amadeus Capital had raised $75 million as a first closing for its global fund called Amadeus IV Digital Prosperity Fund that invests in venture and growth companies. South African telecommunications company MTN Group is one of the corporate investors in this fund.
Last year, it led a Series B round funding worth $8.9 million in Brazil-based online insurance price comparison and brokerage business Bidu Holdings.
(Edited by Joby Puthuparampil Johnson)