Business Daily from THE HINDU group of publications
Saturday, Apr 28, 2007
ePaper
Business Daily from THE HINDU group of publications Saturday, Apr 28, 2007 ePaper |
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Info-Tech
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Venture Capital Sandalwood exploring investment options Our Bureau
Hyderabad April 27 Sandalwood Capital Partners, a India-focussed venture fund, is in parleys with Tessolve, which is in the process of setting up an assembly and test facility for semiconductors in Chennai, and Hindustan Semiconductor Manufacturing Company, exploring investment options. The Managing Partner of Sandalwood Partners, Mr Bob Kondamoori, said, "Nothing as yet has been firmed up, but they are at advanced stage of finalising plans for funding Tessolve, which has an 80-acre site near Chennai."
More negotiations
Speaking to reporters here on Wednesday, Mr Kondamoori said that the fund, a $150-million semiconductor and IT industry focussed, was in negotiations with two more Internet firms in India. Test and assembly in the semiconductor industry is one of the fastest growing segments and there is increasing investment in this aspect of the industry. Given the market potential in the country, assembly and test plants would pave the way for semiconductor units, he said. Sandalwood has committed investment of $30 million in SemIndia's proposed test and assembly facility in Hyderabad. The fund has appointed Mr Satish Andra as their representative here to oversee their investments in the Internet business segment.
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