UTI Ventures, the venture capital arm of UTI asset management company, is planning to raise a $400-450 million fund. This will be the third fund of Bangalore-based venture capital major and is likely to be called "Ascent India Fund". The fund will open by July and close in 3-6 months. The company would tap institutional investors in the US, Europe and Asia. Endowment funds, pension funds and high-end sovereign wealth funds would contribute in the fund-raising exercise, according to sources. The fund will finance deals ranging between $15 and $20 million. It would invest across sectors, with a major focus on infrastructure, retail and media. The venture capital arm of India's third largest AMC has initiated talks with prospective companies for investment purposes.   more »

Cinema Capital Venture Fund, (CCVF) reckoned to be India's first regulated entertainment venture capital fund, is set to be launched shortly. Confirming the development, CCVF senior partner Samir Gupta said: “Yes, we have got Sebi’s approval and will be launching shortly with a corpus of Rs 500-700 crore. We are looking to offer the Indian investor a unique investment opportunity in the fast growing film entertainment sector.” CCVF will be a close-ended fund and will look to invest in a broader spectrum of the entertainment industry and not restrict itself to financing just films. Mr Gupta, who has been producing films and television programmes for the last decade, and five other professionals will manage this fund. Sanjay Bhattacharjee, will be the COO of the fund along with some film producers and senior media professionals. Mr Bhattacharjee, was earlier with UTV and helped set up their film business, while Mr Gupta headed the Indian arm of London-based Fact Based Media and produced the reality show, Lakme Fashion House.   more »