Business Daily from THE HINDU group of publications
Friday, Jul 04, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Jul 04, 2008 ePaper | Mobile/PDA Version | Audio |
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Markets
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Venture Capital Our Bureau Hyderabad, July 3 UTI Ventures, which currently manages two funds close to $250 million, now has over six firms with a market capitalisation of $1 billion and above each, according to its Chief Executive Officer, Mr Raja Kumar. Buoyed by its current investment portfolio and a healthy pipeline, the venture is finalising plans to close a third fund of $500 million by December. The focus will be on healthcare, education and alternative sources of energy, among others. The fund will invest about $5-$15 million and stay invested for about 4-5 years, Mr Raja Kumar said, speaking on the sidelines of a press conference of SemanticSpace, where UTI Ventures had picked up 18 per cent stake. Fund focusWhile the first fund focussed on small technology firms and invested in seven IT products firms, the second fund has had a much diversified investment covering real estate services companies, retail and media. Of them, at least six investments have blossomed into companies with market capital of over a billion, Mr Raja Kumar said. “We will choose an appropriate time to exit. We are in no hurry to do so,” he said. Citing its recent investments, including in Lakshya Media, CCIL, Koutons, AccelSoft, Ind Bharat Energy and Voramasters, Mr Raja Kumar said, “unlike hedge funds and other investors, we do not have pressures to exit our investments. We stay put with these investments for a longer term. This provides good returns.” New areas“The recent developments of DE Shaw investing in Excelsoft, Laqshya Media vindicate the role we have played in helping some of these companies. We are also looking at investments in other new areas such as alternative energy sources,” he said. More Stories on : Venture Capital | Stock Markets
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