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Our Bureau

Hyderabad April 18 Argonaut Private Equity, a $2-billion fund with investment in half-a-dozen companies in India, is scouting for three more investments and expects to close them in couple of months.

Mr Gagan Kapur, Vice-President, said: "We are in parleys for three more investments in different sectors and are close to clinching these deals. We expect to invest up to $250 million in India before the year-end, up from about $150 million invested so far."

The fund has invested in companies such as Koutons (a textile company), KPR Mills (a Coimbatore-based company), Midas Communication Technologies promoted by IIT professor, Mr Ashok Jhunjhunwala, and BlueRiver Capital and Venture East. These investments span retail, textiles and technology.

While refraining to comment on the quantum of investments made in each of these companies and funds, Mr Kapur said that BlueRiver Capital is a $150-million venture while Venture East is a $100-million fund promoted by Mr Sharat Naru.

Speaking on the sidelines of a news conference hosted to announce the Argonaut-led $80 million investment in Cordys, promoted by Dutch entrepreneur Mr Jan Baan, Mr Kapur said that though no separate fund has been earmarked for India, the investments could go up to about $250 million and span any of these focus areas for the fund.

More Stories on : Venture Capital | Textiles | Telecommunications | Retailing

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