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Our Bureau

Pune, June 14

Venture capitalists are now looking at India as a destination which cannot be kept on the sideline any longer, be it for reasons of cost arbitrage or even the human resources. Of this, about 16 per cent is likely go into the information technology segment. And according to venture capitalists "there can never be a better time for Indian entrepreneurs". This is the thought for food with which the Nasscom concluded its Product Summit in Pune.

Mr Sridar Iyengar, President TiE, commenting on the global scenario, said that the Indian market was just waiting to be tapped. He said that initially there was a dip in the funding efforts as people were more interested in finding out what was the Indian scenario before pooling in their resources. Now the situation is such that the entrepreneurs know about their traditional market opportunities as also the requirements of the global market for which they are gearing up. Intel Capital, the Intel Technology's VC arm, has already announced a $250-million fund for India during last December. Mr Kumar Shiralagi, Director, Intel Capital, commenting on the investments, said that it has already invested in five companies in India — Persistent Systems, Mobi Apps, Maya Entertainment, Real Image and Mauj.com.

Mr Sandeep Murthy, Partner, Sherpalo Ventures, Indian representative for Kliener Perkins Caufield and Byers, said that there would be at least five different seed funds which would have about $30 million each, thus helping the start-ups, within the next 12 months.

More Stories on : Software | Venture Capital

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