Hybrid funding new mantra in tech firms: expert

Wednesday, 30 June 2004, 19:30 IST
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BANGALORE: Hybrid investments would be the new mantra in technology firms, Pramod Haque, anointed the world's top venture capitalist by Forbes, said here Monday. "Hybrid investments would become a trend-setter in the knowledge economy," the Indian American Haque, managing partner of Norwest Venture Partners told delegates at an interactive session here. Haque displaced Vinod Khosla as the world's top venture capitalist in Forbes' annual Midas list. "Norwest will be willing to invest in a start-up that has a strong front-end in the US, backed by research and development and product development work in India. "For instance, 15 of the 40 firms which received funding from Norwest have their research and development or product development taking place in the sub-continent," Haque stated. Haque, along with nine US-based pioneering technology firms, which were funded by Norwest, interacted with Indian companies to exchange ideas and technology trends, imperative for enterprises in India. Among the US firms that participated were Airespace (wireless LAN technology), AmberPoint (web services management), Cast Iron Systems (application routers), Virtela (VPN services provider), CollabNet (web-based collaborative development), Veraz Networks (Softswitch-based communications services), and SPSS (predictive analytics technologies provider).
Source: IANS
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