NEA Announces Expansion of India-Based Subsidiary; Jerry Rao and Amit Sharma Join Firm as Venture Advisors

Apr 08, 2008, 01:00 ET from New Enterprise Associates, Inc.

    BANGALORE, India, April 8, 2008 /PRNewswire/ -- Leading venture capital
 firm New Enterprise Associates (NEA), Inc. today announced the expansion of
 an India-based subsidiary. Jerry Rao and Amit Sharma have joined New
 Enterprise Associates (India) Pvt. Ltd (NEA India) as Venture Advisors.
 Both Rao and Sharma bring to NEA India substantial operational expertise
 and a long history of successful entrepreneurship to support the growing
 portfolio of India-based technology companies within NEA's affiliated
     "In bringing Jerry and Amit on board, NEA has further demonstrated its
 commitment to financing and building thriving companies in India," said Ben
 Mathias, Vice President, New Enterprise Associates (India) Pvt. Ltd.
 "Jerry's long history of successful entrepreneurship in the consumer
 finance and business process outsourcing sectors will make him a highly
 valued advisor to companies in the portfolios of NEA's affiliated funds.
 Similarly, we are very excited about the tremendous wealth of experience
 Amit brings, particularly in the telecom sector here in India, and will
 look to him as a key advisor in this and related areas."
     Jaithirth (Jerry) Rao joined NEA India as a Venture Advisor in Feb
 2008. Previously, he was the Founder, Chairman and CEO of MphasiS. MphasiS
 is listed on the Indian stock exchanges with a $1.3B market cap, and EDS
 has acquired a majority stake in the company. Prior to founding MphasiS,
 Mr. Rao was with Citigroup, where he built and developed Citibank's
 consumer businesses as the Country/Regional Manager in India, Middle East,
 Eastern Europe and UK. He earlier headed Citibank's Global Technology
 Development Division and Global Electronic Cards Division. A seasoned
 veteran in consumer and corporate financial services and in technology
 management, Mr. Rao has testified before the U.S. Congress on e-commerce.
     In addition to his role at NEA India, Mr. Rao is on the boards of
 Puravankara Projects, IDFC Private Equity, Royal Orchids Hotels and Lotus
 India Asset Management Company. He is an investor in various private
 companies, some of which are angel and early stage investments. Mr. Rao is
 on the board or advisory board of several of these companies. He is a
 Trustee of the NASSCOM Foundation, Sujaya Foundation, India Foundation for
 the Arts and Mathematical Sciences Foundation. Mr. Rao holds a master's
 degree from the University of Chicago and an MBA from Indian Institute of
 Management, Ahmedabad.
     Amit Sharma currently serves as Executive Vice President and President,
 Asia, for American Tower Corporation. Previously, Mr. Sharma was with
 Motorola, where he led teams in India and Southeast Asia in various roles
 including Country President, India and Head of Strategy, Asia-Pacific. Mr.
 Sharma also served on Motorola's Asia Pacific Board and its Senior
 Leadership Team. Prior to joining Motorola, he was with GE Capital, serving
 as Vice President, Strategy and Business Development, and prior to that,
 with McKinsey, New York, serving as a core member of the firm's electronics
 and marketing practices. In addition to his role at ATC, Mr. Sharma is on
 the board of NIIT Technologies.
     Mr. Sharma earned his MBA in International Business from the Wharton
 School, University of Pennsylvania, where he was on the Dean's List and the
 Director's Honors List. He also holds a master's degree in Computer Science
 from the Moore School, University of Pennsylvania, and a Bachelor of
 Technology in Mechanical Engineering from the Indian Institute of
     About NEA
     New Enterprise Associates, Inc. (NEA) is a leading venture capital firm
 focused on helping entrepreneurs create and build major new enterprises
 that use technology to improve the way we live, work and play. Since its
 founding in 1978, the firm has followed the same core principles:
 supporting its entrepreneurs, providing an excellent return to its limited
 partners, and practicing its profession with the highest standards and
 respect. Through its affiliated funds, NEA focuses on investments at all
 stages of a company's development, from seed stage through IPO. With
 approximately $8.5 billion in committed capital, NEA's experienced
 management team has invested in over 550 companies, of which more than 160
 have gone public and more than 240 have been acquired. NEA has U.S. offices
 in Chevy Chase, Maryland; Menlo Park, California; and Baltimore, Maryland.
 In addition, New Enterprise Associates (India) Pvt. Ltd. has an office in
 Bangalore, India and New Enterprise Associates (Beijing) Ltd. has offices
 in Beijing and Shanghai, China. For additional information, visit

SOURCE New Enterprise Associates, Inc.