Stega Capital To Launch $ 50 Mn Fund
Stega Capital is in talk with banks and large investors to raise $50 Mn for its first fund.
The fund will invest in sectors like technology, mobile and healthcare in the range of $50,000 to $ 1 Mn.
Stega Capital is founded by former MD of Lightspeed Venture Partners Sreenivasulu Vudayagiri and former chief executive of India Innovation Fund K Ganapathy Subramanian.
Prior to starting Stega Capital, Sreenivasulu was also director and head of asset management at Thomas Weisel International and associate director (South Asia) at Intel Capital while Ganapathy was founder and CEO at MyDuniya Networks and founding partner at JumptStartup, a VC fund.
The trend of exits by hi-profile honchos in the Indian PE space to start their own businesses continues.
Recently, P R Srinivasan from Citigroup Venture Capital International quit the fund to launch his own fund of around $300 Mn.
Akansa Capital was launched in 2009 by Vivek Paul who quit Texas Pacific Group (TPG) in 2008.
Harsha Raghavan, the former managing director of UK PE firm Candover in India floated Steer Capital in December 2009.
Reference: TOI
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I heard that Calfornia Pension is going to default and I started wondering what could be India's contribution to that.
