Norwest Venture Partners (NVP) intends to set up an office in India, either in Bangalore or Mumbai, reports the Mint. The VC firm will also have three partners in India. NVP recently exited Yipes when Reliance Communications acquired the company for $300 million. However, the company has no plans for a dedicated India fund, though it will draw on its global $650 million for investments here. The firm is looking at investments ranging from $1 million to $50 million, and early and late stage investments. NVP has invested in Mobile2Win, Yatra and more recently, Sulekha.com.
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