Corporate Updates

Norwest to Venture Beyond IT to Healthcare and Retail in India

Kurt L Betcher, administrative partner and chief financial officer of Norwest Venture Partners (NVP), and his colleague and general partner Robert B Abbott were recently in India. Betcher’s focus was on the logistics of setting up and running an office in India, while Abbott, was looking for investment opportunities in the country, beyond the realm of technology that NVP had so far restricted itself to. Though the Palo Alto-based company’s presence has been felt in India since late 2003, with frequent visits and the occasional investment made by managing partner Promod Haque and general partner Vab Goel, the latest visit is significant. It indicates the continued commitment of VC firms like NVP to India and the opportunities they see in the country. After pursuing only technology and technology-related companies till now (NVP has invested in five Indian companies and in 22 companies that have an India linkage), the venture capital firm now feels that healthcare and retail are ripe to explore.

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