**OT** Infinity Tech plans second venture fund
(Wednesday, February 16, 2000)
Shilpa Garg in New Delhi -Business Standard
Delhi-based venture capital fund, Infinity Technology Investments, will launch a second fund worth about Rs 1,000 crore ($217 million) in another 12 months.
"We will be launching the new fund once we finish with the current corpus," Infinity chairman Saurabh Srivastava told Business Standard.
"We plan to invest the Rs 120 crore gathered over the next 12 months and would come up with another fund then," said Srivastava.
According to him, the second venture fund will also concentrate on the infotech sector and Internet start-ups.
Infinity was India's first entrepreneur-financed venture capital fund for the infotech industry.
Several successful Silicon Valley investors like Kanwal Rekhi and Suhas Patil are participating in it.
The promoters of Infinity have shortlisted five areas of investments: Internet start-ups, companies in software services, software products, information technology-enabled services and convergence.
Infinity, with a corpus of Rs 120 crore, has already taken stakes in four infotech start-ups -Indiagames.com, a games portal; Expopoint.com, a virtual conference website; LinkSoftware, a software services company offering vanilla software for overseas clients; and BroadcastIndia.com, a content portal on India. |
