VentureEast launches USD 150 mn venture fund

Mumbai, Oct 31 (UNI) VenturEast, previously APIDC Venture Capital, today announced the launch of a 150 million US Dollars VenturEast Proactive Fund that will invest in companies building new technologies.

The investement will be made in both early stage companies using technology as well as growth stage companies using technology to build growth, the company said here today.

Speaking to reporters here, the company's managing partner Sarath Naru said ''Unlike other large-size venture capital funds, our model is based on the businesses and technologies that are relevent to India and having multiple funds.'' A significant focus of the fund will be to invest in businesses that address the needs of the digital divide/bottom-of-the pyramid markets and the needs of the small and medium enterprises (SMEs), Mr Naru added.

UNI