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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (8393)	10/13/1999 10:58:00 PM
From: Mohan Marette	Read Replies (1) of 12475

On the Screen:ICF Ventures takes 24% stake in Linc Software lincsoftware.com ICF Ventures, a venture capital company, has invested Rs 4.5 crore in Linc Software Services Pvt Ltd for an equity stake of 24 per cent. At a press meet here on Wednesday, Mr Chandra Kumar, managing director, Linc Software, said that the company has set aside 10 per cent of its equity for employee stock options. The venture funds will be partly used to fund an acquisition in the US and stepping up its marketing efforts in the UK and the US, besides developing infrastructure facilities. Linc, plans to go for an initial public offering (IPO) in the next two or three years, he said. The Rs 16-crore revenue target for the current fiscal will be achieved, he added. (10-14-99 ET)

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