Fenox Venture Capital is bringing on TiE Global Chairman and the founder of TiE Angels, Venktesh Shukla, as General Partner.
For the unfamiliar, TiE is a nonprofit mentoring network for entrepreneurs and promoter of entrepreneurship worldwide. Its annual conference, TiEcon, is in its 23rd year.
According to Fenox VC partners, the firm will rely on Shukla to source deals in, as well as help entrepreneurs from around the world to scale their businesses in India.
Shukla will also help connect tech entrepreneurs and other investors in India to those in Silicon Valley.
Fenox VC runs 11 funds, each focused on specific industries or technologies including artificial intelligence, robotics and health. While eight of its funds are still active and putting capital into new deals and follow-on rounds, three are closed with all capital deployed.
The company’s portfolio includes, among others: Scanadu, the health diagnostics tech company inspired by Star Trek’s Tricoder; Jibo, which makes a social robot for home use, entertainment and education; electric motorbike makers Terra Motors; and WeVorce, a site that helps couples through a divorce process.
Shukla was not immediately available to comment on his new role with Fenox VC.
Fenox VC Chief Executive and General Partner Anis Uzzaman said, “Sixty-percent of the world’s population lives in Asia. We’re already investors in companies in Japan, Korea, Indonesia and Bangladesh. Venk will help us expand our horizons to India.”
In India, the firm expects to invest in e-commerce, and consumer web and mobile app companies, primarily.
Update: Comments from Fenox Venture Capital’s CEO Anis Uzzaman added.