Kleiner Perkins Makes First Investment In India; Invests $2.7-3 Million In Cleartrip.com

The Economic Times: It’s the season of online travel deals. In the sense, any VC worth their name is backing one or the other travel portal in India. World’s largest venture capital firm, Kleiner Perkins Caufield and Byers (KPCB) is making its first investment in India – in yet-to-be launched Cleartrip.com, an online travel portal for India. The KPCB investment is not very large and is said to be in the range of $2.7-3 million, in the first round. “Though the initial investment is small, the venture is expected to be funded through its business life cycle by KPCB and may suck in larger amount of funds over its lifetime.”
Ram Shriram’s Sherpalo VC fund is also expected to be a co-investor in the company. The investment will be announced on Thursday. KPCB officials have been scouring Delhi and Bangalore for the last couple of days to understand the local environment and potential opportunities in the country. Sandeep Murthy, a US-based consultant, is expected to head Cleartrip.com. Sandeep Murthy had told ET in an earlier interview, -

Comments have been disabled for this post