The already crowded venture capital industry in India got a new member with a team of investors led by Kanwal Rekhi, a Silicon Valley based entrepreneur and mentor, launching a US-India venture fund Inventus Capital Partners on Tuesday. With a corpus of $125 million, mainly raised from global institutional investors and the founding members, the venture fund aims at investing in at least 15-20 early-growth companies over the next three years. The VC firm intends to invest $1-10 million in companies in software product, services, Internet, mobile and other high growth technology sectors, in syndication with another venture firm. To start with, Inventus Capital has participated in a $3.5 million institutional round raised by a Silicon Valley based IT firm with its development centre in Bangalore. Inventus is leading the round with $2 million investment, an announcement to which will be made in few days, Rekhi told reporters in Bangalore. Besides, the company is in advance stage of talks with a Bangalore based firm for funding, which is expected to be in the range of $2-3 million.   more »