Synopsis
Having started off its consumer-Internet play with marketplace bets, the India arm of the Silicon Valley venture-capital firm moved on to vertical commerce and then to the direct-to-consumer segment. In the meantime, it stumbled on fintech SaaS and how. What is the method that has helped Bessemer build its India portfolio, and how does it plan to sustain the momentum?
A year ago, when the Tatas acquired a majority stake in Bigbasket, an early investor of the e-grocery company decided to stay back and put in more money. That is Bessemer Venture Partners. With that move, Bessemer’s cumulative investment in the e-grocery company touched USD50 million. Vishal Gupta, partner and managing director of Bessemer Venture Partners, who is on the board of Bigbasket, believes the VC firm’s 5% stake, which was worth thrice
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