Former Infosys CFO and board member Mohandas Pai, along with Manipal Group MD Ranjan Pai, will invest in three more venture funds, taking their investments in private equity ventures to $100 million (Rs. 600 crore) in 10 funds that finance over two dozen early-stage companies.
The total size of these funds is estimated to be around $300 million (Rs. 1,800 crore).
Mohandas Pai, who has turned an avid investor after he quit Infosys three years ago, told HT that one of the upcoming venture funds would invest in companies started by women entrepreneurs, while another will invest in silicon chip design companies.
“Lots of women want to be entrepreneurs and the time is right for such a fund,” he said.
The third one will be a technology fund, he added.
Aarin Capital, a $50-million fund co-founded by Pai, has invested in 13 companies, while Tandem Capital, the $100-million fund in which Aarin holds 25%, has picked up stakes in Palo Alto-based technology start-ups.
Aarin has also picked up minority stakes in other venture funds: Exfinity, run by former Infosys CFO V Balakrishnan; Singular Capital Investment focussing on mid-cap companies run by Vivek Kalra; and a social enterprise fund among others.