Though Mr Popli was unwilling to disclose the names of the investors, he did indicate that the investors included key telecom companies. Accordiant will be a keen investor in "deep technology companies" according to Mr Popli who is particularly bullish about the wireless and broadband spaces. "We are focussing on these spaces because its something I am most comfortable with and I believe there is great potential in India for them" says Mr Popli. The Fund will be managed by Gunjan Bhow, a Berkeley University graduate who will be based in India. Mr Popli also said that Hatim Tyabji was an investor in the fund and has agreed to be on the board of at least five of Accordiants Investee companies. Tyabji is founder of Verifone, which is now part of Hewlett Packard as well as Saraide, a company acquired by Infospace.

Accordiant plans to invest in about 20 - 25 Indian companies in the angle and first round funding stages. Popli also indicated that a couple of his investee companies - VPN Dynamics and FiveNineSolutions are currently planning their India operations. VPN Dynamics, a security company which has alliances with companies like Nokia and Ramp Networks plans an R & D centre in India and plans to address global markets with its products out of India according to Popli. FiveNine Solutions, a company which primarily tests sites for high availability also plans its India operations shortly according to Popli. Both VPN Dynamics and FiveNine Solutions are investee companies of NetAngels, a fund managed by Mr Popli. Commenting on his basic investment strategy, Mr Popli indicated that he tends to go for companies which have "defensible Intellectual Property." Mr Popli indicated that since most ideas in the Internet space are replicable, unless the company has a defensible intellectual property it might find the going tough.