Amadeus poaches Intel exec in India

Bhavanipratap Rana will establish the UK-based venture capital firm’s presence in the country

Amadeus Capital Partners is launching its presence in India, opening an office in Bangalore and hiring private equity and venture capital professional Bhavanipratap Rana  as a partner to head up the operation, according to a statement. 

Rana joins from Intel, where he was most recently an investment director and worked for 14 years, leading and managing over $170 million worth of investments in 30 companies in India, the US, Europe and Brazil.

In 2013, Amadeus raised $75 million in a first closing for its global fund, Amadeus IV Digital Prosperity Fund, which invests in venture and growth companies developing applications and services targeted at the rapidly expanding middle classes in growth markets.

The firm will also shortly be announcing the fund’s first investment in a business with operations in India, according to the statement.

“Amadeus brings a strong record of technology investing, supporting entrepreneurs and growing companies; I look forward to leveraging that within the technology ecosystem in India. Through Amadeus’ investments, we aim to participate in the build-out of the Indian internet services ecosystem, as well backing Indian product companies,” Rana said.

Amadeus chief executive, Anne Glover, added, “Our Indian presence will enhance the reach of the Digital Prosperity Fund team, working with existing investments and sourcing new opportunities; it will also offer increased networking opportunities for our early stage and growth investments.”

Amadeus has been expanding into new markets, making its first investment in Brazil in 2014. In April, the firm led a series B round of funding for Bidu Holdings, an online insurance price comparison and brokerage business. Other investors in the $8.9 million round included venture capital firms Monashees Capital and Otto Capital Partners, and media business Bertelsmann.