News: Helion Venture launches $140-m India fund

(BL 04/08/2006) New Delhi - Helion Venture Partners on Thursday announced the launch of a $ 140 million India-focused venture fund. This fund would provide capital and mentoring to technology-powered businesses in India.

"We will focus on businesses that use technology as key differentiator," Kanwaljit Singh, Managing Director, Helion Ventures Pvt Ltd, told a press conference here.

He said that the fund would be "sharply focusing" on outsourcing and businesses around Internet, mobile services and intellectual property-based products.

The other areas where the advisors to the fund, which closed a month back, see opportunity include financial services and online travel.

A team of professionals based in India would advise the fund and its portfolio companies. The advisors include Sanjeev Aggarwal, Managing Director, Ashish Gupta, MD, Kanwaljit Singh, MD and Rahul Chandra, Director of Helion Ventures Pvt Ltd.

Kanwaljit Singh said that the range of investments of the fund, which is a multi-stage fund, would be from $ 2 million to $ 10 million.

About 40 proposals from various entrepreneurs have already been received by the fund, which is expected to make its first investment shortly.