GE Asia Pacific Capital Tech Fund to invest $5-10 million in India

Priya Srinivasan in Mumbai

Among the handful of venture capital (VC) funds still keen on start-up funding in India is the the Hong Kong-based GE Asia Pacific
Capital Technology Fund, which is in the process of closing at least two deals in India. These will be the fund’s first two deals in the country.

Speaking to The Financial Express Mr Ashok S Kothari, managing director of the fund said that the deals were in the IT and telecom spce, but refused to elaborate.

“The deal size will be anywhere between $5 to 10 million and the investment will serve as expansion stage capital for these companies,” Said Mr Kothari.

“We have just been waiting to do business here and our investors have been very keen on India for a while now,” said Mr Kothari.
He added that the fund was also keen on the healthcare segment, but said that the investments in that space would be on the
equipment side, given GE’s own strengths in that area.

The GE Asia Pacific Capital Technology Fund is a $150 million fund whose principle sponsor is GE Capital along with APC Asset Management and Acer. The Fund’s other investors include Sumitomo of Japan and the international news agency Reuters.

The fund currently has about five investee companies in Hong Kong, Singapore, California and Taiwan.