An inelegant tango

A most unusual partnership deal involvng two VC firms - Sequoia and Westbridge partners was consummated recently.

This is the first time ever I've heard two VC companies merging. I don't understand how they reconcile the interests of their limited partners or how the proceeds of exits of their portfolio companies are divided.

At any rate, it does highlight the dramatically growth of private equity in India. When a heavy-hitter like Sequoia chooses to enter a market by acquisition it would probably mean that they do no want to waste time setting up shop, hiring people etc. In other words they are keen to get on the ground quickly, and start raking in the dough.

Interesting times in the world economy..