View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 12, 2004

Indian-promoted firms dominate VC deals in US

Indian-promoted technology companies are taking a lion's share of US venture capital (VC) money according to recent research by Chennai-based VC tracking firm TSJ Media.

By CBR Staff Writer

During the last quarter (ended March 2004) US VCs dished out over $470m in private equity placements to 43 companies set up by individuals with Indian roots, including CipherTrust Inc, Redback Networks Inc, 3PAR Inc, Ipolicy Networks Inc, and Maranti Networks Inc.

According TSJ Media, over 19 firms secured funding of over $10m each.

Most of the money is being funneled to enterprise software products, which attracted over 15 deals last quarter. Telecommunications chipped in with eight deals, while the remainder largely comprised storage hardware and security device vendors.

The largest placement last quarter ($42m) was by CipherTrust, an Atlanta, Georgia-based provider of email security software. 3PAR, a Californian provider of utility storage snagged $30m, while broadband networking firm Redback Networks bounced back from Chapter 11 bankruptcy to also secure $30m

The previous quarter (ended December 2003), 32 Indian-promoted firms collectively raised over $265m.

This article is based on material originally published by ComputerWire

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.