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Mayfield Fund Backs Indian Incubator AngelPrime

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http://techcrunch.com – Mayfield Fund is announcing an Indian investment today, out of its Mayfield India fund. The venture firm is backing AngelPrime, a Bangalore-based incubator. The investment will be used as seed capital for the companies that AngelPrime plans to incubate over the next 3 years and to fund the operations of AngelPrime. AngelPrime’s founding partners, Bala Parthasarathy, Shripati Acharya and Sanjay Swamy, previously founded Snapfish (acquired by Hewlett Packard), ZipDial, and worked at Cisco, IBM and Xerox. The organization’s model is similar to that of U.S. based incubators, but at a small (IT news)