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500 Startups hires India investment professional

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500 Startups, the US-based incubator founded by serial entrepreneur Dave McClure, has hired Pankaj Jain to head up its India operations. He was previously consulting for TLabs in New Delhi, focusing on deal sourcing and running the start-up accelerator program.

Prior to moving to India in 2007, Jain spent more than 10 years running technology and operations for hedge funds in New York. At 500 Startups, he will be responsible for investing in Indian companies, investor relations and building entrepreneur networks.

The company said Jain's appointment was a response to the burst of innovation in tech start-ups. It has already invested in more than 10 Indian companies such as Teliport.me, MyGola and CucumberTown, as well as collaborating with the GSF India Accelerator.

Under 500 Startups accelerator program, entrepreneurs receive a combination of up to $250,000 in early-stage funding and mentoring.

Earlier this year, 500 Startups invested in Cinemacraft, an interactive media platform based in Tokyo and Singapore. Outside of India, its Asia portfolio includes Affinity China, ChinaNetCloud and Julu Mobile in China; 9Gag in Hong Kong; Viki in Singapore; and Aqush, Gengo and Language Cloud in Japan.

 

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