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May 23, 2005

US based VCs in India

This is definitely a new trend (ok not yet a trend !). Bay area VC firm investing in automotive sector in India -

Gurgaon-based publicly listed automobile components firm Rico Auto Industries Ltd. is to raise about $24 million (Rs. 103.2 crore) through a preferential allotment to Morgan Stanley, New Vernon Bharat, and Bessemer Venture Partners.

Looks like non-technology sector is catching interest of VC firms. Same New Vernon Bharat bought 25% of Jagran TV.  Hindi language based media will see more action in near future.

May 23, 2005 in Silicon Valley | Permalink

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