UK's Amadeus picks Bhavani Rana to lead new India office

Rana previously spent 14 years as an investment director with Intel Capital. According to a release, he has overseen more than $170 million of investments in 30 companies in India, the US, Europe and Brazil, many of which have since been exited.

Amadeus announced its plan to open an India office in September last year and was previously said to be look to invest up to $10 million in local start-ups. The firm held a first close on its latest emerging markets-focused vehicle, Amadeus IV Digital Prosperity Fund, in July 2013 at $75 million. It is targeting a $150 million final close.

"Our Indian presence will enhance the reach of the Digital Prosperity Fund team, working with existing investments and sourcing new opportunities," said Amadeus CEO Anne Glover. "It will also offer increased networking opportunities for our early-stage and growth investments.

Amadeus was set up in 1997 by Acorn Computers founder Hermann Hauser, among others, and has around GBP500 million ($815 million) in assets under management.

The firm focuses on mobile technology, financial services, digital media and online services and has made around 90 early-stage investments to date. It also has a presence in the US, Sweden, and South Africa.

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