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Two Indians top Forbes` Midas list of venture capitalists
New York, Feb 05: For the second year in succession, two Indians - Promod Haque and Vinod Khosla - have topped Forbes magazine`s annual Midas list which ranks people who most successfully use venture capital to create wealth for their investors.
New York, Feb 05: For the second year in succession, two Indians - Promod Haque and Vinod Khosla - have topped Forbes magazine's annual Midas list which ranks people who most successfully use venture capital to create wealth for their investors.
Haque is at the head of the list while Khosla occupies the second position. Last year, Khosla was at the top with Haque right behind. In 2002 too, Khosla occupied the second position.
The criteria followed by the magazine ignores the original amount invested in a deal, as it is often undisclosed. Instead, it looks at the market capitalisation of a venture-backed company on the close of its first day of trading or the purchase price in an acquisition.
The change in value of each investment since going public or being sold as well as a venture capitalist's - or lawyer's, banker's or recruiter's - length of involvement and influence with a startup are also considered.
Companies must have gone public or been acquired after June 1995 to be considered, and they must be in the information technology or life sciences business. The results, the magazine said, are based on extensive reporting and surveys sent to 1,000 professionals.
A first-timer at the top, Haque said outsourcing abroad is just the beginning and even smallest companies would have to do that. In the long run, exposing countries like India and China to technology would create additional markets for US products, he added.
Bureau Report
The criteria followed by the magazine ignores the original amount invested in a deal, as it is often undisclosed. Instead, it looks at the market capitalisation of a venture-backed company on the close of its first day of trading or the purchase price in an acquisition.
The change in value of each investment since going public or being sold as well as a venture capitalist's - or lawyer's, banker's or recruiter's - length of involvement and influence with a startup are also considered.
Companies must have gone public or been acquired after June 1995 to be considered, and they must be in the information technology or life sciences business. The results, the magazine said, are based on extensive reporting and surveys sent to 1,000 professionals.
A first-timer at the top, Haque said outsourcing abroad is just the beginning and even smallest companies would have to do that. In the long run, exposing countries like India and China to technology would create additional markets for US products, he added.
Bureau Report