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Indian American fifth on 2023 Forbes Midas List

Navin Chaddha pursued his Bachelors of technology in Indian Institute of technology, Delhi, and finished his masters in science in Stanford University.

Navin Chaddha (Image - Forbes)

Forbes, in collaboration with TrueBridge Capital Partners, presented the Midas List of 2023 which featured the top 100 global venture capital investors including Indian-origin Navin Chaddha, 52, managing director of Mayfield fund.

Chaddha occupied the 5th position ranking higher than any other Indian-origin person on the list. As MD of Mayfield fund, he oversees the firm’s venture practice and has funded 18 businesses that went public, including Lyft, Poshmark, and developer tools provider HashiCorp.

The blockchain software developer Alchemy, which has survived the cryptocurrency shakeup, and the spectacularly unsuccessful cryptocurrency exchange FTX are among the web3 apps in which Chaddha has started investing.

“I partner with entrepreneurs who want to change the way people work, live and play. I invest in people first and markets second,” Forbes quoted him as saying.

An immigrant from India with electrical engineering training, Chaddha quit his PhD programme at Stanford to start the streaming video business VXtreme, which Microsoft later bought.

To qualify for the Midas list, investors are ranked by their portfolio companies that have gone public or been acquired for at least US$200 million over the past five years, or that have at a minimum doubled their private valuation since initial investment to US$400 million or more over the same period.