U.S.-based venture capital Walden International plans to launch a global fund early next year to raise up to $500 million as it steps up investment in China and India, a top official said on Tuesday.
Walden manages more than $1.9 billion in assets, mainly in China and the United States.
It aims to invest up to $150 million in the next 12-18 months in India's education, financial and healthcare service firms, Managing Director Rajesh Subramaniam told reporters in Mumbai.
“We typically raise funds every three years and the sweet spot for us is the $400 million-$500 million range,” he said.
The firm was among the first investors in India's Mindtree Ltd , and currently owns 17 percent of the software services firm. It has also bought into unlisted Indian back-office firm Anantara and outsourcer Sierra Atlantic.
“We are in talks with firms in education and financial services. We could be investing in some of the low-hanging fruits there,” Subramaniam said.
Most venture capital firms have chased Indian software and back-office start-ups, but he said firms focusing on the domestic consumption market offered opportunities.
Source: Reuters