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Naya Ventures Launches New 250 Crore Rupees ($50 million) Fund Focusing on the Mobile and Cloud Markets

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Naya Ventures Launches New 250 Crore Rupees ($50 million) Fund Focusing on the Mobile and Cloud Markets PR Newswire HYDERABAD, India, December 6, 2012 HYDERABAD, India, December 6, 2012 /PRNewswire/ -- Naya Ventures, a new type of venture capital fund specialising in early stage companies in the mobile and cloud markets, today announced its first closing for its 250 Crore Rupees ($50 million) fund. Headquartered in Dallas, with offices in Silicon Valley, Seattle and Hyderabad, India, Naya takes a unique approach from the typical venture capital fund to lead by collaboration. Combining the features of a venture capital fund with those of a private equity firm, Naya not only provides capital to early stage companies, but also the industry experience and relationships at the concept stage in their development to help jumpstart their growth to the next level and beyond. Naya helps connect entrepreneurs with the necessary key players in big companies, from internal product marketing and development all the way up to C-level executives, leveraging its own extensive operational experience, product development expertise and network of strategic relationships to help entrepreneurs grow their companies and accelerate value creation. At a time when many funds have struggled or even closed, the value of Naya's portfolio companies have created significant value and all its portfolio companies have gone straight to Series A or B funding.
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Naya Ventures Launches New 250 Crore Rupees ($50 million) Fund Focusing on the Mobile and Cloud Markets
PR Newswire HYDERABAD, India, December 6, 2012
HYDERABAD, India,December 6, 2012/PRNewswire/ --
Naya Ventures, a new type of venture capital fund s pecialising in early stage companies in the mobile and cloud markets, today announced its first closing for its250 CroreRupees ($50 million) fund.
Headquartered in Dallas, with offices in Silicon Valley,Seattle and Hyderabad, India, Naya takes a unique approach from the typical venture capital fund to lead by co llaboration. Combining the features of a venture ca pital fund with those of a private equity firm, Naya not only provi des capital to early stage companies, but also the industry experience and relationships at the concept stage i n their development to help jumpstart their growth to the next level and beyond.
Naya helps connect entrepreneurs with the necessary key players in big companies, from internal produc t marketing and development all the way up to C-level executives, leveraging its own extensive operation al experience, product development expertise and netwo rk of strategic relationships to help entrepreneurs grow their companies and accelerate value creation. At a time when many funds have struggled or even closed, the value of Naya's portfolio companies have created significant value and all its portfolio companies have gone st raight to Series A or B funding.
The fund is led by serial entrepreneurs who are vet erans in mobile and cloud technology industry and w ho have collectively founded and sold mobile technology com panies creating more than2500 CroreRupees ($500 million) in shareholder value. The fund is headed by Dayakar Pu skoor, a wireless industry visionary and former Mic rosoft executive, whose background includes founder and CE O of JP Mobile and M2 Junction; Prabakar Reddy, an experienced global executive with more than 20 year s of strategy and operational roles in Fortune 500 and innovative start-up companies including co-founder and CIO of Risemart and Managing Director of ANSR G roup; a n dGowri Shankar, CEO ber of the Sprint PCS launch team,of SinglePoint Technologies and a founding mem which laid the foundation for Sprint PCS's industry-leading enterprise sales strategy.
"We're pleased that these investment partners have joined us and see the value in our unique approach, " said Puskoor, who serves as general and managing partner for the fund. "We are not a traditional incubator model, nor a traditional Venture Capitalist; we consult with our portfolio companies' management teams to identify areas in which Naya can help and go beyond opening doors for our p ortfolio companies. We do all that we can to build value. All of our portfolio companies have benefited by Naya's co nnections in getting strategic deals and partnershi ps, and kickstarting revenue.
In operation since 2011, Naya's current portfolio c onsists of seven companies in the mobile and cloud market. These include BoxFish (formerly Mixaroo), a better way to control TV, Zoomingo, a top rated sh opping app platform that lets consumers find the best deals in their local stores or online from their smartphone or home computer; and Glympse, a mobile service that allows GPS-enabled mobile devices to share their location via a web app for a pre-set amount of time. Additional companies are currently in the pipeline or under evaluation.
"Naya's team has helped us in our business developm ent and marketing, assisting us to refine our strat egy and getting key introductions to potential partners tha t helped us to accelerate our business development, " said Eoin Dowling, Co-founder and CEO of Boxfish. "Naya worke d with us in lockstep to increase our business deve lopment bandwidth."
"Naya has been a key strategic partner from the beg inning, and the team is available to us as much as we want," said Shirish Nadkarni, President and CEO of Zooming o. "As part of this, Naya had helped us with our st rategy and business development, identifying and introducing u s to potential business partners to help us establi sh a strong business model for Zoomingo."
Co-investors in Naya portfolio companies include Me nlo Ventures, Benaroya Capital, Seapoint Ventures, Intel Capital, Deutshe Telecom Ventures, Ignition and Rally Capital.
About Naya Ventures:
Founded in 2011, Naya Ventures invests in early sta ge mobile technology and cloud based companies wher e its product development expertise, emerging market chan nel relationships and go-to-market strategies can e fficiently increase enterprise value. Led by serial entreprene urs in the mobile and cloud industry, Naya Ventures ' principals work alongside a global network of C-level executiv es and general partners at influential US technolog y companies and venture funds. Naya's strong mobile and cloud i ndustry reputation, its relationships with leading technology companies such as Microsoft and its global network of technology and market development resources help accelerate value creation. Its relationships also p rovide Naya with an extensive deal sourcing and follow on funding capability.
Website:http://www.nayaventures.com
Primary Media Contact: Arjun Kumar Sahu,arjun.s@nayaventures.com, 91-40-66545406, 91-9866787958