Summary of Proposed Investment
Project Number
11613
Company Name
NewPath Ventures LLC
Date SPI Disclosed
Jul 18, 2002
Country
India
Industry
Telecommunications and Technology
Projected Board Date
Aug 22, 2002
Status
Completed
Sector
Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)
Department
TMT, Venture Capital & Funds
Environmental Category
C - No Impact
Previous Events
Approved : Oct 16, 2002
Signed : Nov 20, 2002
Invested : Nov 25, 2002
Project Description
Leapfrog is a holding company formed to create, fund, and control businesses focused in the semiconductor systems and related software areas.
Development Impact. Leapfrog is expected to provide a major push for India to enter the higher-end of the IT industry. As competition from lower-wage countries increases in the IT sector, India faces a significant challenge in moving up the curve into higher value-added products and services. Leapfrog is a notable initiative in this direction. The management team''s renown in the global semiconductor industry makes Leapfrog an exceptional opportunity to carry the Indian IT industry in a challenging new direction. In addition, Leapfrog’s management team, niche strategy, off-shore/on-shore experience and networks, business processes, and independence, will provide an important demonstration effect for the broader technology investment industry in India.
IFC Role. IFC participation in the project offers a number of benefits, including:
Development Impact. Leapfrog is expected to provide a major push for India to enter the higher-end of the IT industry. As competition from lower-wage countries increases in the IT sector, India faces a significant challenge in moving up the curve into higher value-added products and services. Leapfrog is a notable initiative in this direction. The management team''s renown in the global semiconductor industry makes Leapfrog an exceptional opportunity to carry the Indian IT industry in a challenging new direction. In addition, Leapfrog’s management team, niche strategy, off-shore/on-shore experience and networks, business processes, and independence, will provide an important demonstration effect for the broader technology investment industry in India.
IFC Role. IFC participation in the project offers a number of benefits, including:
- Channeling support to leading-edge Indian technology companies in a difficult funding environment.
- Providing follow-on financing to meet growth needs of sub-investee companies.
- Giving additional comfort to Silicon-valley based investors bringing world-class relationships and expertise to the Indian market.
- Demonstration effect for high-technology investment in other IFC client countries.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Daniel Crisafulli, Investment Officer
E-mail: dcrisafulli@ifc.org
E-mail: dcrisafulli@ifc.org