Helion launches $140mln India-centric venture capital fund

New Delhi, Aug 3 (UNI) Malaysia-based Helion Venture Partners today announced the launch of a 140 million dollar India-focussed multi stage fund, to invest in companies offering technology-based products and services.

''India is clearly one of the most dynamic and fast-growing economies in the world. The technology powered sectors like outsourcing, internet, mobile services and IP based products are growing five times the rate of Indian GDP. Helion will invest in companies that create technology products and services and non-technology businesses that leverage technology,'' Helion MD Kanwaljit Singh told reporters here.

The fund investments come predominantly from financial institutions like Ivy League, followed by global and domestic partners as well as internet entrepreneurs.

The fund will focus on providing growth capital ranging from two million to 10 million dollars to the entrepreneurs who are dealing in products with a high degree of intellectual property involved.

Apart from the capital, it will also provide entrepreneurial skills including, strategic formulations, organisational development, operational support and advices on acquisition and mergers.

With offices in Gurgaon and Bangalore, the fund is in talks with various enterprises and will announce some major developments in the next few weeks.

''Within a few weeks of our announcements, we recieved enquiries from about 40 companies. We are actively in talks with about 12 of them, and will announce the developments this month,'' Mr Singh said.

Earlier this week, two other private equity firms, US-based Matrix and Swiss BTS Investment Advisors had also launched a 150 million dollar and 80 million dollar fund respectively, dedicated to the country.

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