Norwest Venture Partners (NVP), a technology venture capital firm, has appointed Niren Shah as Managing Director. Shah will be based in Mumbai, and will focus on local investments in the consumer Internet, digital media, next-generation services and mobile sectors. He has 14 years of operational, finance, investment banking and entrepreneurial experience from consumer Internet companies such as eBay, and financial institutions such as KPMG.
“I’m confident that Niren will add tremendous value to our existing portfolio companies and the entrepreneurs in whom we invest. NVP India will aggressively hire senior investment professionals and invest in new high caliber businesses to capitalise on this growth,” said Promod Haque, Managing Partner, NVP.
The firm has already made five direct investments in such companies as Adventity, Mobile2Win, Persistent Systems, Sulekha.com and Yatra. In addition, NVP has more than 20 ‘hybrid’ or ‘cross-border’ portfolio companies, i.e., those that are headquartered in the US, but have a significant presence in India, including AmberPoint, Cast Iron Systems, CollabNet, LifeSize Communications, Open-Silicon, Sonoa Systems, Veveo, Virtela Communications and Yipes.
“NVP’s strong venture capital brand in India and deep commitment to its entrepreneurs truly impressed me. With a more than 45-year history and solid track record, NVP understands what it takes to build leading companies. I'm thrilled to be working with NVP India, and I look forward to partnering with Indian entrepreneurs to fuel the growth of several next-generation companies in the years ahead,” Shah said.
Prior to joining NVP India, Shah was Senior Director of Strategy and Ventures at eBay Inc. in California. He was also part of the Marketplaces Ventures leadership team, where he was responsible for considering new business opportunities, acquisitions and potential investments across the global market places.
Previously, Shah was a part of the original management team of Baazee.com. During his tenure, he served as CFO and Director of Operations. Post Baazee's sale to eBay, he led Baazee's integration and platform migration into eBay.