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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (760)	2/16/2000 10:36:00 PM
From: Mohan Marette	Respond to of 1471

VC News -Chrysalis invests Rs 10 cr in education portal-eGuruCool Business Times Bureau Feb.17,00 NEW DELHI: Chrysalis Capital, a venture capital fund focused on Indian Internet start-ups and software services companies, has taken an equity position in egurucool.com , an online career and education portal. "We're going to invest a sum of Rs 10 crore in this company over a period of the next six months," Ashish Dhawan founder partner of the venture capital firm said. eGurucool.com is an online education portal which focuses on aiding preparation for IITs and other competitive exams. The site will provide career as well as personal counselling to students. The site has introduced a 24-hour online help for students taking their board exams. "Eventually, we want to provide full-fledged degree courses to students through the Internet," Vivek Agarwal co-founder of eGurucool.com said. Commenting on the business model, Vivek said, though the bulk of revenues will come from fees charged to students for course content, the company will look at advertising as another source. "We're already working on tie- ups with existing offline educational content providers for course content," Vivek said. Egurucool.com is finalising alliances with offline content providers like Brilliant for this project. eGurucool.com is the second company in which Chrysalis has invested after baZee.com. baZee is an Internet shopping portal set up by Harvard School graduates Avnish Bajaj and Suvir Sujan. Chrysalis, which has a capital pool of $65 million for funding start-ups, is in an advanced stage of negotiations with few other companies for funding their projects. " We'll be able to use all the funds much before the target of two years set by us initially. Then we'll go for the second round of funding," Ashish said. People who have invested in Chrysalis include Non-Resident Indians such as Vinod Dham of Pentium fame, Victor Menezes co-CEO of Citigroup (Nyse:C), K B Chandrasekhar of Exodus (Nasdaq:EXDS), Sanjeev Sidhu of i2 Technologies (Nadaq:ITWO).Other Investors in Chrysalis include Hank Paulson chairman Golman Sachs(Nyse:GS) and Microsoft (Nasdaq:MSFT).