US-based venture capital firm Trident Capital is planning to raise its next global fund worth between $350-400 million. The company said a significant focus of the new fund would be on India. This will be the firm’s seventh such global fund. It is at present investing out of its sixth fund worth $430 million.
Venetia Kontogouris, managing director of Trident Capital, told Financial Chronicle, “We hope India will be a big growth story for us.’’ The firm has recruited a venture person on ground in India, its first such initiative outside the US.
The venture firm is looking at non-technology areas for investments, for it feels that technology has become commoditised. According to Kontogouris, Trident is looking to invest in areas such as clean technology, bill payments and security products.
Trident is also in talks with a dermatology company for putting in capital. Kontogouris said, “We are looking at investing in an Indian company that is into scientific discovery and manufacture of specialised skin products.” She declined to name the company.
Trident has so far invested in five Indian companies in India. These are Bangalore-based Microland and Elucido Media Networks, Pune-based Neilsoft, social networking site Minglebox and Outsource Partners International. The total cumulative investment made in these five companies amounts to $34 million and the firm is planning to increase this sum.
Source: My Digital FC