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SAIF to invest $100-150 mn in India

Hong Kong-based private equity firm SAIF Partners plans to invest $100-150 mn in India in the next two years.

india Updated: Feb 08, 2006 17:31 IST

Hong Kong-based private equity firm SAIF Partners plans to invest $100-150 million in India in the next two years in sectors like technology, media financial services and telecom.

The India exposure of the firm is about $100 million in four years, with the latest being investment of $22.5 million to pick up more than 10 per cent stake in the US-based Cybernet Software Systems (CSS) which has significant operational presence in India.

"We are eying companies in the business of IT-enabled services, telecom, auto component, broadcasting and packaging for making individual average exposure of $10-20 million to pick up equity stakes in unlisted companies," SAIF Partners India Operations head Ravi Adusumalli said.

SAIF Partners has $1 billion under its management, out of which it has already invested $600 million and plans to launch its third fund of about $600 million in 2007.

Besides India, the equity firm has invested a major portion ($420) in China and about $80 million in South Korea, as it is focussing on these three countries.

SAIF Partners had earlier picked up equity stakes in Intelligroup, IL&FS Investments, Makemytrip.Com, Sify.Com and VisualSoft Technologies.

CSS is a business and technology solution provider specialising in services to enterprises and Independent Software Vendors.

The company plans to more than double its India headcount to 6,500 from 3,000 and add more delivery centres to its existing six in Chennai as it aims a revenue of $100 million in next 18 months.

First Published: Feb 08, 2006 16:33 IST