First foreign VC investor fund launched

By Our Staff Correspondent

MUMBAI, JAN. 2. 2i Capital Asset Management Company Ltd., Mauritius and 2i Capital (India) Pvt. Ltd. today launched `2i Capital PCC' - India's first Foreign Venture Capital Investor Fund (FVCI). The fund meets all of Securities and Exchange Board of India's (SEBI) new foreign venture capital investor regulations.

Mr. Vivek Sekhar, founder 2i Capital PCC, said, ``2i Capital PCC is a fund which will add value to strategic investors.'' Explaining its unique `open-ended' structure, he said, ``We bring to India for the first time a venture capital fund structure that differentiates itself by focusing on providing value to strategic investors including technology companies and individuals with technology expertise.''

2i Capital PCC is a `Protected Cell Company' (PCC) under the Mauritius law, which is similar to an `umbrella fund' in which investor accounts are segregated. The Fund's open ended nature derives from the fact that additional funds may be poured into existing accounts over time, and new accounts may be created through the fifty-years of the fund. The company's mission is to help entrepreneurs and investors build successful and competitive businesses by adding value to the entrepreneur's strengths in a time and cost effective manner.

In India, 2i Capital is represented by Mr. Shankernarayan, formerly vice president - Finance, Spice Telecom and Mr. Kislay Kanth, former vice president - equity research, Dresdner Kleinwort Benson.

Send this article to Friends by E-Mail

Section  : Business
Previous : Heavy loss for fertilizer units
Next     : Growth - the issue is about quality