The India arm of the Silicon Valley venture-capital firm started off its consumer-Internet play with marketplace bets, moved on to vertical commerce, and then to the direct-to-consumer segment. Along the way, it stumbled on fintech SaaS and how. How has Bessemer built its India portfolio, and what is the road ahead?
A year ago, when the Tatas acquired a majority stake in Bigbasket, an early investor of the e-grocery company decided to stay back and put in more money. That is Bessemer Venture Partners. With that move, Bessemer’s cumulative investment in the e-grocery company touched USD50 million. Vishal Gupta, partner and managing director of Bessemer Venture Partners, who is on the board of Bigbasket, believes the VC firm’s 5% stake, which was worth thrice
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