Financial Daily from THE HINDU group of publications
Monday, Mar 20, 2006
Financial Daily from THE HINDU group of publications Monday, Mar 20, 2006 |
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Software Info-Tech - Interview SAIF earmarks 20% of fund for India V. Rishi Kumar
"While continuing focus on IT, ITeS sectors, we expect to announce a couple of investments shortly in media and manufacturing sectors."
MR RAVI ADUSUMALLI
Hyderabad , March 19 For SAIF Partners, with an investment chest of $1 billion (about Rs 4,500 crore), India and China have emerged as happy hunting grounds. The Fund has earmarked 20 per cent of this for India and is poised to announcing two more investments shortly. The General Partner of SAIF Partners, Mr Ravi Adusumalli, told Business Line "while technology, telecom have been main areas of focus, media and manufacturing could be other options. While India is witness to momentum, China continues to be a favourite destination due to large local absorption." The private equity fund with investments from SB Corporation (Japan) and Cisco, expects to invest in 2-3 companies per year with its latest being Cybernet Software Systems ($22.5 million). Excerpts. SAIF has been active in India, what are its plans? We foster innovation and invest in growth stage companies with strong management teams that are fiscally responsible. We will continue to make privately negotiated equity or equity-linked investments in technology, media and entertainment, telecom and financial services companies in Asia-Pacific.. Are any new investments on cards? India is a strong focus for the fund and we are looking to make larger investments in the market. We have identified media and entertainment as emerging sectors for investment. These are in various stages of negotiations. Have you set apart a separate fund for India? No, we have not set a separate fund for India. Sify, VisualSoft, and what next in India? Over the past four years, SAIF invested in the Internet-enabled services companies such as Sify, MakeMyTrip, and Investsmart and IT services companies such as VisualSoft, SlashSupport and Intelligroup. While continuing focus on these two sectors, we expect to announce a couple of investments shortly in media and manufacturing sectors. SAIF Partners is involved in the management and growth of the companies it invests in helping them network and identify business opportunities.
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