UK's Amadeus Capital to open India office

The firm - which focuses on mobile technology, financial services, digital media and online services - held a first close on its latest emerging markets-focused vehicle, Amadeus IV Digital Prosperity Fund, in July last year at $75 million. It is targeting a $150 million final close before the end of 2014.

"The Indian market right now is at a tipping point and there's a lot of maturity in the market, particularly in the online services space," Jason Pinto, a partner at the London-based firm, told Live Mint.

He added the firm was currently in the process of hiring someone to head its India efforts and would be opening the office later this year.

Amadeus was co-founded by Acorn Computers founder Hermann Hauser and has around GBP500 million ($815 million) under management. It has backed over 85 companies across the US, Europe and Latin America since its inception in 1997. It has offices in London, Cambridge, San Francisco and Stockholm.

Pinto said that India is the only location where the firm plans to open a new permanent office in the next years. The VC firm has already started scouting for Indian start-ups with the intention of closing a handful of deals before opening the new office.

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• Topics
• South Asia
• Early-stage
• Technology
• India
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• Technology