Business Standard: An interview with Promod Haque of Norwest Venture Partners. He talks about Norwest’s investment in Yatra Online, the first B2C investment of the VC fund in India, and other topics like the right qualities of an entrepreneur, India’s competitive advantage in outsourcing and so on.
This is the first time you appear to be looking at the B2C (business-to-consumer) segment. Earlier, your focus was on the B2B (business-to-business) segment.
If you see our portfolio, we have invested in the B2C segment in the past too. Of course, in India, this is the first such funding. The reason is that you see consumer spending growing since the middle class is growing. Internet usage is increasing.
We are looking at consumer services that are well-proven in the US and Europe. Travel fits in our current strategy. We spent a lot of time understanding the travel space. We also identified a team in the UK and convinced them to come to India. We will be looking at several other consumer services in the near future. Read further…