Billionways to invest in two china startups

Bangalore, Feb 1: Promoting a new Indo China partnership in theInformation Technology sphere, Billionways Consultancy will invest onemillion US dollars in two chinese start ups in the area of IT testingand services and IT training, Mr Venkat Rajendran, Chairman and CEO ofthe Company said today.

Talking to newsmen here, Mr Rajendran said Billionways had alsomade an angel investment in Orizin Technoilogies, a Mysore based startup in the RF ID area was activiely involved in the business of retailin hospitality and fashion.

Mr Rajendran, whose company Deccanet Designs Ltd was acquired byUS multinational flextronics International in 2004, said he had setaside a personal investment of five million dollars for six start upsalready decided and two others in pipeline. Besides he had access toaround 50 million dollars from his friends and relatives to plough intobusiness if necessary.

He said Billionways would promote, invest in and nurture newenterpreneurship ventures with initial focus on technology, retail andsocial entrepreneurs. It had a vision to scale up each of the sixventures it had funded into global ventures, he said adding that thecompany had also set up a subsidiary in Singapore called BillionwaysSingapore Pvt Ltd that would manage investments in East Asia,especially China.

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