ePlanet Ventures To Close $500 Million Global Fund; To Focus On India, China

Venture capital fund ePlanet Ventures may soon close its second global fund with a projected corpus of $500 million, reports The Economic Times. The early stage fund, expected to launch in the next three months, will focus on India and China. Chandrasekar Kandasamy, director, ePlanet Ventures, is quoted as saying: “The markets are hot in India and China and a significant portion of the fund will be used in these countries. We are looking at areas like technology in healthcare services, autocomponents, hospitality apart from IT and internet.”
The fund, which has set up offices in Bangalore and New Delhi, had earlier invested in Bangalore-based online DVD rental company Seventymm. This was done from its first $650-million fund, started in affiliation with Draper Fisher Jurvetson.
ePlanet plans to invest in the range of $2 million to $20 million in a company.

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