Naya Ventures, a new type of venture capital fund specializing in early stage companies in the mobile and cloud markets, today announced its first closing for its Rs2.50bn ($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 entrepreneursgrow 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 valueand all its portfolio companies have gone straight to Series A or B funding.
The fund is led by serial entrepreneurs who are veterans in mobile and cloud technology industryand who have collectively founded and sold mobile technology companies creating more than 2500 Crore Rupees ($500 million) in shareholder value. The fund is headed by Dayakar Puskoor, a wireless industry visionary and former Microsoft executive whose background includes founder and CEO of JP Mobile and M2 Junction; Prabakar Reddy, an experienced global executive with more than 20 years of strategy and operational roles in Fortune 500 and innovative start-up companies including co-founder and CIO of Risemartand managing director of ANSR Group, and Gowri Shankar, CEO of SinglePoint Technologies and a founding member of the Sprint PCS launch team, 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 portfolio companies. We do all that we can to build value. All of our portfolio companies have benefited by Naya's connections in getting strategic deals and partnerships, and kickstarting revenue opportunities."