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Helion Venture Partners launches $140 m fund

Ivy League and Internet pioneers roped in as global investors

PHOTO: Kamal Narang

JOINT INITIATIVE: Members of Helion Ventures (left to right) Sanjeev Aggarwal, Kanwaljit Singh, Ashish Gupta and Rahul Chandra, at a press conference in New Delhi on Thursday.

NEW DELHI: Mauritius-based Helion Venture Partners on Thursday announced its foray into India with the launch of $140 million (about Rs. 630 crore) multi-stage India-focused venture fund, providing growth capital and technical knowhow to technology-driven firms.

"India is a growing market and entrepreneurs here often face liquidity crunch. We will provide capital and technological assistance to entrepreneurs in the telecom and Internet businesses and help them grow,'' Helion Venture Managing Director Ashish Gupta told reporters here. At present, the fund was processing 40 proposals and would announce its first major investment in a couple of weeks, he said, adding that the funding would be in the range of $2-10 million. The fund would invest in growing technology-driven sectors like outsourcing, mobile services, Internet services, online gaming, online ticket booking and other IP (intellectual property) based products.

"We have roped in almost a dozen global investors like Ivy League University and Internet pioneers, among others,'' he said.

The VC fund would invest in companies that create technology products and services, and non-technology businesses that leverage technology to build market leadership, he said

Technology-powered sectors, like outsourcing, Internet services, mobile services and IP-based products are growing at five times the rate of the Indian GDP. "Our own experience of having steered disruptive technologies and companies in this sector makes us confident of being able to add meaningful insights and add value to entrepreneurs,'' Mr. Gupta said. — PTI

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