Eleven Indian-Americans have featured in Forbes annual list of 100 best venture investors with the “Midas” touch, who made savvy investments in startups and then sold off their stakes to pocket nearly $95 billion in profits.
The “Midas List” of the 100 best venture capitalists for 2014 has been topped by Jim Goetz, partner at firm Sequoia Capital, the only institutional backer in messaging service WhatsApp.
Goetz’s combined $60 million in three rounds to support WhatsApp “epitomises the Midas touch”, and WhatsApp’s $19-billion price tag in an announced sale to Facebook means Sequoia holds $3 billion worth of Facebook stock, over twice the total of Sequoia’s’s billion-plus 2010 fund.
“With 20 fresh faces and seven returnees, the 2014 Midas List is a testament to the big dollars and even bigger bets investors are making today in tech. Time will tell whether the frothy market can keep rolling into 2015,” according to the report.
Among the IndianAmericans on the list is Aneel Bhusri, co-CEO, Workday, a cloud-based financials and human resources software firm.
Stanford business school graduate Bhusri, 48 is ranked 17th on the list and has a net worth of $1.3 billion. He notched big returns in 2007 when storage software outfit PolyServe was sold to Hewlett-Packard for $200 million, and OutlookSoft was acquired by SAP.
On the 22nd spot is Wharton School graduate Deven Parekh, MD of Insight Venture Partners. The 44-year-old debuts high on the list, thanks to an early 2009 investment in Twitter as well as investments in microblogging platform Tumblr and personalised magazine Flipboard.
Parekh also helped steer Tumblr to its sale to Yahoo last year and manages investments in e-commerce, consumer internet data, and application software businesses.
The other IndianAmericans on the list include Promod Haque ranked 27, Navin Chaddha (30), Neeraj Agrawal (37), Sameer Gandhi (41), Asheem Chandna (55), Venky Ganesan (57), Vinod Khosla (63), Salil Deshpande (67) and Gaurav Garg (86).