Reliance Technology to invest $50 mn in H1 2010

Reliance Technology Ventures, the corporate venture capital arm of the Reliance ADA Group, will invest $50 million in deals in H1 2010. It is rebranding the company as 'Reliance Venture Asset Management.' This development reflects and signifies the company's revamped strategy and vision for future to target sectors beyond its erstwhile focus of technology enabled businesses.

Since its inception in early 2006, the company has advised and / or invested in deals to the tune of over $4 billion. Going forward, the company will look at opportunities in disruptive and sustainable companies following a sector, stage and geography agnostic investment approach.

Speaking on the company's new strategy, Harshal J. Shah, CEO, Reliance Venture Asset Management Ltd. averred, “Over the last four years of existence, we have successfully established our niche as India's leading corporate VC company exploiting investment opportunities globally and in India, especially in technology enabled companies. Today the global VC industry is at an inflection point with the emergence of exciting prospects in newer and fast growing sectors. Being opportunistic in our philosophy, we have revamped our strategy to exploit the investing potential in sectors such as clean technology, aerospace, defence, media and entertainment in addition to our mainstay of technology enabled companies. In line with this strategy, we are expected to close 3-6 deals in H1 2010 worth a cumulative investment of USD 50 million.”

In a sector, where historically, global VCs have forayed into India for investment opportunities, Reliance Venture Asset Management has, in a reversal of sorts, successfully invested in the US, France and other countries apart from leveraging opportunities in India. The company's global investment portfolio comprises of promising companies such as Yatra.com, Suvidhaa Infoserve, Stoke Inc, Pelago Inc, Sequans Communications, E-Band Communications, Seedfund and two MIT-startups, Dhama Innovations and Scalable Display Technologies.