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More US venture capitalists coming to India!

September 27, 2004 13:38 IST

A delegation of venture capitalists from the East Coast, US, with a worldwide portfolio of $20 billion, will visit India next month as part of TiE event to explore the possibilities of investing in Indian IT, business process outsourcing and biotech sectors.

These 15 VCs control 500 companies in the East Coast through their venture funds. They would be in India as part of an exploratory visit to look at the scope of investment in IT, BPO and biotech companies under the TiE's Boston chapter agenda, sources said.

The Indian investment could, however, not be disclosed at this stage as they will look at the pros and cons of their proposed investment in various cities including Mumbai, Delhi and Bangalore, where companies in need of $1-5 million funds would be the target firms.

Starting October 3 with the TiE event in Mumbai, the delegation including VCs like Bessemer Venture Capital, Vesbridge Venture Capital, Kodiak, Leader Bank, and Silicon Valley Bank among others will meet Reliance Infocomm chief Mukesh Ambani and have an overview of India's capital market from DSP Merril Lynch and an investment overview from Ernst & Young.

In Delhi, the delegation will have an interaction with Kiran Karnik, president, National Association of Software and service Companies.


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