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January 30, 2004

Brunei VC fund scouting for early-stage, "spin-in" deals in India

The BI Venture Capital Group, a part of Brunei Investments Group which manages investments of royal families across Asia, is scouting for deals in India, Businessworld reports quoting fund manager Ram Shanmugam. The BI Venture Capital Group has a corpus of $125 million for investments in India and Asia-Pacific countries (especially Taiwan and Korea). "I see great investment opportunities in India, especially in technology products and healthcare services," Shanmugam says in the report.

The fund will focus on early stage companies. Shanmugam is keen on investments in "spin-ins". (A spin-in involves large, established companies investing in start-ups to test out concepts and technologies. This model ensures lower costs and more focus. If the experiment provdes successful, the large company will have an option to acquire the start-up.

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