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Neha Kaushik

It is currently in talks to pick up stake in an entertainment firm.

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New Delhi Jan. 27 Bullish about opportunities created in areas linked to increased consumer spending, venture capital firm Clearstone Venture Advisors is planning to increase its exposure to the Indian market.

The firm, which has already made two investments in India, is currently in talks to pick up stake in an entertainment firm.

"We will focus on making early stage investments in India in consumer-oriented sectors. Our first two investments have also been in this area," Mr Sumant Mandal, Managing Director, Clearstone Ventures Partners, said. Clearstone's first investment was in payments service provider, BillDesk, followed by a $8.5-million investment (made along with SIDBI Venture Capital) in DGB Microsystems, an Indian company which will launch its own mobile phone shortly.

"We want to invest in businesses such as DGB, that are poised to take India into category leadership positions in the world," Mr Mandal said.

DGB is set to roll out competitively priced GSM and CDMA handsets, which will be sold in partnership with mobile service operators. The handset will also be customised for local conditions.

Though Clearstone has not earmarked any specific investment for India, the firm does plan to get more aggressive as entrepreneurship catches up in the country.

The firm would be investing up to $10 million per deal with the average value of investment being around $ 5 million. Clearstone Ventures, which has in the past invested in PayPal, Mp3.com and Overture, has around $700 million under management.

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