Silicon Valley-based Bessemer Venture Partners is ready with its recently closed $1.85 billion global fund, to invest across early to growth stage startups in domains like online marketplaces, financial technology, healthcare technology, and software.
“While we don’t have a country-specific allocation, Bessemer has invested 30% of the corpus in international markets which is India and Israel for us. This allocation will roughly remain the same,” said managing director Vishal Gupta, who heads the India office of the firm based in Bengaluru.
Bessemer has been active in the Indian startup ecosystem for over a decade, with more than two dozen investments in the country.
Some of its notable investments in India include online food delivery giant Swiggy, cab aggregator Ola, online marketplace Snapdeal, online grocery store BigBasket, and online pharmacy PharmEasy, among many others.
Talking about the recent investments, Gupta, said, “Dealflow has been very good. The valuations have been a challenge. Secondly, I would say, finding large categories in the consumer internet space has not been very apparent. But we are seeing a tonne of opportunities in fintech, health tech and software.”
Earlier this month, it was reported that Swiggy was in talks to raise ₹6,500 crore in a funding round with participation from Bessemer Venture Partners, among other existing investors.
In September, Bessemer helped Livspace raise ₹509 crore in series C round, which saw participation from TPG Growth, Goldman Sachs, Jungle Ventures, and Helion Ventures.
Earlier in July, it was reported that PharmEasy is expected to raise ₹344 crore in a funding round, which will see investment from Bessemer, along with others.
Apart from Bessemer, a number of international venture capital firms are raising funds, to invest in the Indian startup ecosystem.
Earlier this month, Shunwei Capital closed its sixth global fund at ₹8,800 crore, with focus on India.
In October, Tiger Global Management closed a $3.75 billion fund, to focus on tech investments in India, among other markets.