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Towing the new VC Norm Merus to raise $100 Million
By siliconindia
Bangalore: Merus Capital invested $1 million in Chailabs, a venture of a former Google executive who was the key body behind AdSense and within a year the firm got acquired by Facebook for $10 million. It was a good start for the venture firm launched in 2008, which is again an ex-Googlers Salman Ullah and Sean Dempsey's attempt. As as Alexei Oreskovic of Reuters reveals, now, the firm is in expansion mode, with plans to raise $100 million more to target the Web 2.0.
The shift towards the web 2.0 has become the new normal for VCs. Recently, with Twitter funding Kleiner Perkins Caufield & Byers too asserted their new look to the internet domain from core green domain. And ofcourse, for Ullah and Dempsey, Google itself was a standing example to understand how Web can turn profitable. "We founded Merus Capital in 2007 to support the next generation of software and Internet entrepreneurs," their portal says.
The fund raising will help them to be at par with the venture capital market, which according to National Venture Capital Association and Dow Jones VentureSource will grow at a rapid pace in 2011. 51 percent of VCs and 58 percent of company CEOs polled by them said they expect more venture capital investment in 2011.
