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Norwest Venture's fund for IT sector

CHENNAI: Norwest Venture Partners, a leading global technology venture capital firm, has announced the formation of its most recent fund, Norwest Venture Partners X. The $650 million fund is targeted at early, mid and late stage investments with a concentration on emerging growth opportunities in the global information technology sector. The firm has also made two direct investments in India during the last five months and will announce additional investments in the first half of 2006. NVP invested in Yatra Online, the first online and centralised travel services company for the Indian market.

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