Cisco Apac startup investment head quits
BENGALURU: Joydeep Bose, managing director of Cisco Investments, Asia-Pacific Japan, has quit the company after a decade-long innings with the technology company. Alok Bardiya, director of Cisco Investments, Cisco India and Saarc, will replace Bose. Sources told TOI that Bose is joining a Singapore-based VC firm as their India partner.
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Bose has been instrumental in overseeing Cisco’s strategic investment in Netmagic Solutions. The latter had raised Rs 70 crore in funding led by Nokia Growth Partners and Cisco. He was also involved in Cisco’s other investments including Videonetics, Covacsis, Mobikwik, Comviva and Ineda Systems. Bose was previously the managing director of Intel Capital and is currently a director at Neoleap Accelerator.
Bose’s exit comes days after Cisco managing director sales for India and Saarc region Purushottam Kaushik quit the firm. When TOI contacted Cisco about the exit, the company said, “We will be unable to comment. We are in our quiet period.”
Cisco Investments has a portfolio of $2 billion with over 80 investments in new-age companies and holds limited partner positions in over 35 funds globally. In India, it has invested in 25 startups, out of a pool of $240 million it has for such investments. It acquired Bengaluru-based IT security firm Pawaa last year. The company is also setting up six innovation labs across the country and three centres of excellence focusing on next-generation technologies like IoT and security.