Bessmer venture partners (BVP) have appointed pankaj mitra as a partner who will focus on the global venture capital firm’s investments in artificial intelligence (AI), Enerprise Tech and Cybecurity Inn Its India business.
“We think there’s enormous potential for fourths and companies that are being Built out of India to address these sectors, both here as well as globally,” Mitra Told Mint,
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Prior to joining the US-Based Investment Company, Mitra Worked at Digital Communications Tech Conglomerate Cisco, Where he Leed The Company’s Corporate Development Team, Leading Investments and M & A activity forms Global customer experiences portfolio as well as for India. Notable Investments Made by Him Include Digital Adoption Platform Whatfix, Contact Centre AI Startup Uniphore and AI Observability Company Fiddler.
Mitra was a founding member of the it services giant infosys’ $ 500 million innovation fund. He was part of the team that Invested in Drone Manufacturing Company Ideaforge, which will public in 2023.
BVP’s India Thehesis
His appointment come at a time when bvp is looking to double down on the AI Opportunity in India. “From a committee percective, as you can see, as pankaj have come on board, we are doubling down,” said Vishal Gupta, Partner at BVP.
Bessmer has been in India for two decades and has backed several startups, include swiggy, urban company and perfios. Earlier this year, the firm announced the close of its second India fund, WORTH $ 350 Million, with a focus on AI, Fintech, Enterprise-Tech, Digital HEALTH, CONSUMER, and CybersaCurity.
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“Fintech and Healthtech Continue to Be Sort of Two Other Areas That We Are Spending A Tonne of Time on, In Terms of Looking at Deals,” said Gupta. In the fintech space, BVP is focusing on the infrastructure software layer for the Indian ecoSystem and is evaluating more companies this year.
Meanwhile, in health, the firm is eyeing investments in companies that are working on specific specifications as well as those that that are disrupting the insuppting Meanwhile, it’ll continue to evaluate consumer brands, Following Its Investment in D2C Fitness Brand Boldfit.
Last year, Gupta Told Mint That the firm expected investments in cybersecurity to take off in India. Cut to earlier this year, the global vc firm LED a $ 8.7 million series a round in mobile apps security Startup Protectttt.ai.
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In Fact, VC Firms in the Country Have Been Looking at Cybersecurity more Closely this year, give that ai-based fraudulent activities have seen a sharp uptick.