adreampuppet <[EMAIL PROTECTED]> wrote:
To: [EMAIL PROTECTED]
From: adreampuppet <[EMAIL PROTECTED]>
Date: Wed, 15 Jan 2003 05:32:51 -0000
Subject: [anti-bush-list] Carlyle Group set to invest $125 mn in India
Hmm....
http://economictimes.indiatimes.com/cms.dll/html/comp/articleshow?
artid=33891953
Carlyle Group set to invest $125 mn in India
PRASENJIT BHATTACHARYA
TIMES NEWS NETWORK[ THURSDAY, JANUARY 09, 2003 10:11:02 PM ]
NEW DELHI: The Carlyle Group plans to invest $125 million in India
over the next 3-5 years. The venerable private equity investor has
floated a $300-million Asia-focused fund, of which around 40% will be
invested in India-driven companies.
Carlyle has till date invested around $25 million in India in various
ventures like Usha Communications, SSKI, which owns the portal
Sharekhan, and Educom.
The $125 million investment will exclusively be in IT and IT-enabled
services. Said a Carlyle official, "It's not that we are not
interested in other sectors, but the mandate of our fund has a clear
focus on technology."
The official also added that the fund would also be cautious about
investing in the telecom sector, though it didn't rule out that
option.
Yesterday, on the sidelines of the TiECon meet, a number of venture
capitalists discussed how few deals were closed this year in the
private equity/VC scene. "Though fewer deals were signed this year,
they were big in size," said one VC.
VCs also argued that while most venture capital investment was coming
in areas like IT and IT-enabled services, the potential of sectors
like retail and media entertainment for attracting VC funding was
quite high too. Said Reliance Entertainment's Amit Khanna, "Around
$200 million worth of private equity have already been invested in
the media and entertainment sector, and $100 million of such funding
is expected over the next couple of years." This year's hit movie
Saathiya was produced by a VC-funded company called Kaleidoscope
Entertainment.
Venture capitalists also felt that given the current economic
scenario, it was deemed safer to invest in mature companies in
expansion stage, rather than startups. While the rate of return on
startups was often 10 times of investment, that of expansion stage
companies were around 5 times of investment. However, mature
companies obviously had a lower risk profile.
As far as Carlyle is concerned, the group had last year done the
final closure of a $600 million venture capital fund, Carlyle Venture
Partners II LP in the US. The fund was the largest venture capital
fund raised in 2002, according to VentureWire, an industry tracker.
Earlier in the US, Prism Venture Partners raised a fund of $421
million and Centennial Ventures of Denver closed a $341 million fund.
Carlyle group first raised $210 million in 1997.
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