The efforts by Silicon Valley Bank and TiE in 2004, in bringing a long line of US VCs to visit India, are bearing fruit in 2005 as actual investments in the country.
Following the Battery Ventures led $15 million third round investment in telecom products firm Tejas Networks comes Nokia Ventures $3 million investment in telecom R&D firm Sasken and Bessemer Venture Partners' $3 million investment in automobile components maker Rico Auto.
Here's hoping that this highly positive trend continues and there is a "trickle down" towards early-stage investments as well.
Arun Natarajan is the Editor of TSJ Media, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of TSJ Media's Venture Intelligence India newsletters and reports.