Bangalore: IDG Ventures India Advisors, a prominent venture capital fund that operates in India and Mauritius announced that it would be raising about $150 million which it plans to invest in technology startups, reports deccanherald.com.

IDG Ventures looks to invest anywhere between $1 million to $10 million at early stage technology startups. This amount is being raised as a part of its second round. Soumitra Sharma, a senior analyst said, “The amount is being raised as part of our second round, as we see an increasing interest among investors in India.”

Soumitra Sharma also informed that, there are huge business opportunities in the e-commerce space in India and this is poised to reach a magnificent mark of $23 billion by the end of 2015 which would be aided by the significant increase in internet users from 150 million currently to 450 million in that year.

He also added saying that India is increasingly becoming a global platform for innovations and inventions, this statement was backed by pointing out the figures that 30 per cent of the most prominent 100 global firms have their research and development centers in our nation.

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