Norwest Venture Partners (NVP), the California-based venture capital firm that recently invested $20 mn in Indian KPO firm Adventity, is scouting for buyout opportunities in the Indian IT space. Though NVP does not have a dedicated India fund, it intends to invest $300 mn in India over the next three years, and is targeting companies in the range of $25-30 mn operating in the services and product development space for acquisitions.
The fund currently has invested $50 mn in four IT companies in India and is planning to invest in other 10-15 companies over the next 2-3 years. Apart from Adventity, NVP had earlier invested $13.8 mn in Persistent Systems and another $10 mn in social networking site Sulekha.com. It also invested in online travel portal Yatra.com along with Reliance Capital and the TV18 Group.
NVP is working on a hybrid model, where companies across geographies can be merged together depending on the synergies. Even for its existing portfolio companies in India, the fund is open to merging it with any of its existing investee companies. Though internationally, NVP has made investments in a number of industries, in India, the fund will invest in semi-conductors, consumer internet and media companies.
Read The Economic Times for comments from Mr. Promod Haque, Managing Partner-Norwest Venture Partners.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment