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Venture Capital | 13 December 2010

Ventureast To Launch $200 Mn Fund To Invest In Agri, Cleantech And Healthcare

by Irfan Khan
Ventureast To Launch $200 Mn Fund To Invest In Agri, Cleantech And Healthcare
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Ventureast, a venture capital and private equity firm focusing on life sciences, technology and emerging sectors, is planning to launch a new fund of $200 Mn next year.

The fund wil invest in three areas - agriculture & food processing, clean environment and healthcare.

Nearly one-third of the target corpus has already been tied up, with the balance expected to come in few months.

Earlier this month, Hyderabad-based Sathguru Management Consultants launched a new venture fund - T Harmony - with an initial corpus of $100 Mn focusing on agriculture, life sciences, health, energy and environment. It has already tied up $20 Mn from global developmental agencies and leading technology providers in the US with plans to raise $80 Mn in the next six months.

Other funds such as SONG Advisors are also looking at investing in small enterprises across sectors such as agriculture, healthcare, education and renewable energy.

Ventureast was started as a 51:49 joint venture between Dynam Ventureast Pvt Ltd and Andhra Pradesh Industrial Development Corporation.

In 1995, it had launched $9 Mn generalist fund with the support of World Bank. In 2004 it launched $40 million APIDC Biotech Fund focused on investments in biotechnology companies in India. Besides, Ventureast has also sponsored a $92-million listed fund - Trans India - focused on life sciences in 2007.

In 2001, it launched $5 million Ventureast Tenet I in partnership with IIT Madras and $18 Mn Ventureast Tenet II in 2007. These are incubation funds focusing on seed investments in India’s technology sector. Google had picked up 30% stake in Tenet fund II.

Its latest fund $150 Mn Proactive fund was launched in October 2007 to support early-stage businesses that are building globally competitive technologies.

Ventureast Fund investment portfolio includes some companies like Orion Edutech Pvt Ltd, Loylty Rewardz Management Pvt Ltd, Si2 Microsystems Pvt Ltd, Sai Sudhir Infrastructures Ltd among others.

Transaction Reference: ET


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