Draper to invest $200M in India

By agencies   |   Friday, 07 October 2005, 19:30 IST
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BANGALORE: Silicon Valley based venture capital fund Draper Fisher Jurvetson will invest $200 million in private equity in India over the next five years, its founder and managing director Tim Draper said. "We are going to have a dedicated India fund and are looking for senior advisers and potential managing directors," said Draper who had earlier funded Hotmail, the free Internet e-mail service founded by Sabeer Bhatia and eventually sold to Microsoft Corp. His company entered China ahead of others and had successfully taken public five of its 10 companies there. "India is in the same position now. It is a gut feel," Draper said, adding he was looking for early stage technology companies.