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Sathguru sets aside $100 Million for VC fund
By siliconindia
Hyderabad: Hyderabad based Sathguru Management Consultants (SMC) has set up a venture fund initiative with an initial corpus of $100 million. It will be operational by June 2011. The company has already deployed around $20 million in the first phase.
Kannan Vijayaraghavan, Chairman said that SMC plans to deploy around $2 to 3 million in about 25 ventures across 6 to 7 countries, in industries such as agriculture, food and seeds.
SMC also plan to assist enterprises based in regions such as Africa and Asia in translating technologies by providing funding support. It has a workforce of 150 employees.
Trilateral business models will be partnerships involving advanced research labs of the west, Indian labs in public and private system and partners in Africa, South Asia and South East Asia. Recognising the advancements in India in the area of translational research, President Obama during his recent visit to the country, emphasized the immense potential for trilateral partnerships with India, Vijayaraghavan added.
