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
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
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.