Gautam Patel Joins Firm from iGate
WALTHAM, Mass. & MENLO PARK, Calif.--(Business Wire)--
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.
About Gautam Patel
Prior to Battery, Gautam was the Head of Europe and a member of
the leadership team at iGATE, a Nasdaq listed
Technology/BPO/Infrastructure services firm. Previously, he was the
head of Middle East at MphasiS, also a publicly listed Technology/BPO
firm. In addition to day-to-day P&L responsibilities, Gautam completed
the acquisition of an SAP company for the firm. Prior to MphasiS,
Gautam founded 3Genesis, a venture-backed Indian wireless telco
services firm with clients in the US and Europe. He joined the Private
Equity/VC industry in India in 1997, as it was just getting started,
working in Mumbai for Indocean Chase Capital Partners and eVentures
(where he incubated and spun out 3Genesis). Gautam began his career in
finance in the U.S., working in New York and Chicago for investment
banks Lazard Freres and Smith Barney. In these positions, he worked on
a variety of cross-border transactions, including sell-side mandates,
restructurings, share buybacks, and secondary market offerings. Gautam
graduated from the University of Texas at Austin's management and
technology program.
About Battery Ventures
Since 1983, Battery has been investing in technology and
innovation worldwide. The firm partners with entrepreneurs and
management teams across technology sectors, geographies and stages of
a company's life, from start-up and expansion financing, to growth
equity and buyouts.
Battery has supported many breakthrough companies around the
world, including: Airespace (acquired by Cisco), Akamai Technologies
(NASDAQ: AKAM), BladeLogic (acquired by BMC Software), Cbeyond
(NASDAQ: CBEY), LIFFE (acquired by Euronext), Neoteris (acquired by
Netscreen), and Omniture (NASDAQ: OMTR). Its current portfolio
includes emerging firms such as Bazaarvoice, Netezza (NYSE Arca: NZ),
Spot Runner, Tejas Networks, TradeKing, and Travelguru as well as more
established companies such as ITA Software, Cortera and MetroPCS
(NYSE: PCS).
From offices in Boston, Silicon Valley and Israel, Battery manages
nearly $3B in committed capital. For more information, visit
www.battery.com.
Battery Ventures
Karen Bommart, +781-478-6600
kbommart@battery.com
Copyright Business Wire 2008
