Helion Venture Partners, an India-focussed venture fund, on Tuesday announced the closing of its second fund of $210 million. The company had raised its first fund of $140 million during late 2006.
Helion also announced that it would now expand its focus sectors to include companies in the consumer services space. This would include high-potential companies in sectors like retail services, education and financial services.
“Helion will continue its focus on technology-powered businesses even as we expand our focus into consumer services. Factors like the rapid increase in mobile and Internet penetration in India are further paving the way for innovative technology products and services that to cater to the domestic market. In addition, domain-focused outsourcing and technology products continue to be focus sectors,” said Ashish Gupta, managing director, Helion Venture Partners.
Sanjeev Aggarwal, managing director, Helion Venture Partners, said: “What is heartening is the fact that while all the original investors have invested again in Helion’s second fund, the fund has also attracted new high quality investors from the US, Europe and Asia. This reflects growing global investor confidence in both Helion and the India growth story.”
Since its launch in 2006, Helion has invested in 11 companies including JiGrahak, makemytrip.com, UnitedLex, Gridstone, Anantara, Zmanda, Kirusa, Komli, Hurix, Amba Research and Mindworks Global Media Service.
Kanwaljit Singh, managing director, Helion Venture Partners, said: “The rise of entrepreneurial activity within fast growing domestic consumption-led sectors makes a compelling investment proposition for Helion. This is set to increase further as sound policy initiatives and technological advancements make it possible for more Indians to partake in India’s growth.”
Source: Business Standard