The largest single investment during 2005 was the $150 million raised by Harpinder Madan-co-founded FiberTower, a San Francisco, CA-based provider of infrastructure and services for cellular networks. The latest round, which takes FiberTowers total financing to $225 million, was led by existing investor Crown Castle International with participation from other existing investors.
Other Indian-founded companies that raised over $30 million in venture capital financing during the year included Paul Sekhri-co-founded Cerimon Pharmaceuticals, Rakesh Gupta and Anita Gupta-co-founded TechBooks and Prabhat K Dubey-co-founded Force10 Networks, amongst others.
Over 30 Indian-founded companies in the US were acquired during 2005, six of them for over $100 million. The single largest deal was the April acquisition of Ajay Chopra-co-founded Pinnacle Systems by Nasdaq-listed Avid Technology for $462 million.
Private equity and venture capital firms invested about $1.5 bn in 125 Indian-founded companies in the US in 2005
Founded in 2001, Airespace had raised $58 million from Battery Ventures, Fidelity Ventures, Norwest Venture Partners, Storm Ventures, Hotung Capital and KTB Ventures. Ciscos shopping list also included Sheer Networks, FineGround Networks, NetSift and Nemo Systems.