Battery Ventures adds Gautam Patel to investment team

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Battery Ventures, a venture capital and private equity firm focused on investing in innovation worldwide, today announced the addition of Gautam Patel to its investment team.  Joining as Partner, Patel will focus on investments in India, supporting Battery's strategic goal of building out its global investment platform.  Patel joins Battery with nearly 15 years of combined venture capital, private equity and operational experience, most recently serving as head of Europe at IT services/BPO company iGate. 

Patel joins the firm's India investment team, including Ramneek Gupta and Mark Sherman .  Battery has been investing in India since late 2004, concentrating on the Financial Services, Media, and Technology Sectors; it is currently investing BV VIII, a $750M fund.  Patel will initially be based in the firm's Silicon Valley office, preceding his and colleague Gupta's move to Mumbai in the second half of the year.

"This is an exciting step in our plans to build out our India practice," said Mark Sherman, Battery Ventures General Partner.  "Gautam began in the Indian private equity market in 1997 when it was just getting off the ground, and a lot has happened since then.  He shares our vision and passion for investing in the country, and has the essential blend of work experience in India, the US and Europe, which will help our portfolio companies scale globally.  India is a major hub of entrepreneurial activity and innovation and represents an important geography in our global investment strategy."

"In addition to the country's surging economy, we believe there are significant demographic, income patterns and lifestyle shifts that are creating opportunity for entrepreneurs and investors alike," said Patel.  "We expect an enormous amount of value to be created in the coming years, and it's great to join a firm that is willing to diligently search for the best companies in the most compelling sectors."

Battery's current portfolio of direct investments in Indian-based companies includes: 

·     Tech Process :  A leading provider of transaction and payment processing services across a variety of industries in India.  Based in Mumbai.

·     Tejas Networks :  Developer and marketer of leading-edge optical networking products for worldwide customers. Based in Bangalore.

·       Travelguru : A pioneering travel solutions company that offers travelers the opportunity to plan and purchase their hotel travel instantly, in a transparent, hassle-free, quick and smart way. Based in Mumbai.

·     High Mark: India's newest credit bureau, based on a new-generation technology platform. Based in Mumbai.

In addition, as business has globalized and moved offshore, Battery has invested in numerous U.S.-based companies with major operations in India, including BladeLogic (acquired by BMC Software), Consona, Mformation, Movius, Netezza (NYSE Arca: NZ), Veraz Networks (NASDAQ: VRAZ) and Witness Systems.

Sourced From: Adfactors Public Relations Pvt Ltd