Private equity fund and investment banking firm Avendus Advisors Pvt Ltd said its $200 million fund will invest in India's outsourcing sector, its chief said on Friday.
The fund was launched in December in association with US-based venture capitalist Mayfield Fund. Avendus is still tying up the finances, Managing Director Ran Vohra said on the sidelines of a Nasscom summit.
“We are looking at investing in knowledge-oriented and outsourcing companies in the areas of legal processes, financial services and equity research,” he said.
Investments will be done in companies with revenues 800 million to 1 billion rupees and with a track record of 3-5 years, he said.
Industry sources estimate that in 2006 more than $7 billion worth of private equity capital have come into India.
Avendus is also advising on mergers and acquisitions for software technology and auto component companies. “We are looking at acquisitions in the US and Europe in the range of $25 million-$2 billion,” Vohra said.
Source : Financial Express