Helion marks $210 m for tech
Helion Venture Partners plans to increase its focus on companies in sectors like retail services, education and financial services, writes Ruchi Hajela.Updated: Mar 11, 2008 23:27 IST
Helion Venture Partners, an India-focused venture fund company , has invested in its second fund worth $210 million. The company invests in technology driven businesses or those in the consumer space with a focus on sectors such as outsourcing, Internet, mobile and technology products, retail services, education and financial services.
Going forward, Helion plans to increase its focus on companies in sectors like retail services, education and financial services. “The rise of entrepreneurial activity within fast growing domestic consumption-led sectors makes a compelling investment proposition for Helion,” Kanwaljit Singh, Managing Director, Helion Venture Partners Pvt Ltd said in a statement issued by the company.
Although the company plans to expand on consumer driven sectors, technology driven businesses will still remain key. “Helion will continue its focus on technology-powered businesses even as we expand our focus into consumer services,” Ashish Gupta, Managing Director, Helion Venture Partners Pvt Ltd. Ltd said
Gupta was one of the key engineers that built up Junglee.com which was acquired by online retailer Amazon.com. He also was an early investor in Daksh e-Services acquired by IBM.
“Factors like the rapid increase in mobile and Internet penetration in India are further paving the way for innovative technology products and services to cater to the domestic market,” Gupta said.
Helion was launched in 2006 and has so far invested in 11 companies including travel portal makemytrip.com and editorial outsourcing company Mindworks Global Media Service.The amount of total funds raised by Helion for investing in companies has gone up from $140 million to $350 million.