NVP India invests $15 Million in listed firm OnMobile
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Mumbai: Eyeing opportunities in listed firms, NVP India, the Indian arm of Silicon Valley-based venture capital firm Norwest Venture Partners, has invested about $15 million on value-added service (VAS) firm OnMobile Global. The investment was made for a stake of less than five percent in the Bangalore based VAS firm. "Norwest is actively evaluating a number of opportunities in the listed space. We see a lot of value in public companies across sectors and we expect to make a number of investments through the secondary markets," said Sohil Chand, Managing Director of NVP India told Mint. Excluding NVP, other traditional venture capital firms too are speculating to invest in listed companies in India. Sequoia Capital India, which raised a $725 million fund for growth-stage investments in the country in August, has invested in electrical products maker Havells India. Matrix Partners India, the local arm of the U.S.-based venture capital firm, too is considering investing in listed companies here. "However, our bias would be to invest in such a company on a primary basis rather than buying shares from the stock exchange. As it stands, public market valuations are lower than private market expectations," said Avnish Bajaj, Co-founder and Managing Director of Matrix India.

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