Financial Daily from THE HINDU group of publications
Sunday, Sep 04, 2005
Financial Daily from THE HINDU group of publications Sunday, Sep 04, 2005 |
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Info-Tech
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Venture Capital WestBridge Capital closes 2nd fund Our Bureau
Hyderabad , Sept. 3 WESTBRIDGE Capital Partners, a Mauritius-based India focused capital fund, has announced that it has recently closed its second fund, WestBridge Ventures II, LLC, with $200 million in commitments. Being an active venture capital fund in India, WestBridge plans to continue to focus on high growth companies that target both domestic and export markets across a variety of sectors including outsourced services, information technology, healthcare and Internet. The co-founder and senior Managing Director, Mr Sumir Chadha, in a statement said, "We are pleased to announce a very successful close to our fund raising efforts for WestBridge Ventures II. The fund was oversubscribed with interest both from existing investors in Fund I as well as from many top tier US endowments and foundations." The co-founder and Managing Director, Mr K.P. Balraj, said, "We are seeing a significant number of high quality investment opportunities in India and expect to maintain or increase our investment pace of 4-5 new investments every year." WestBridge Capital manages a portfolio of 16 companies in India and holds approximately $350 million under management.
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