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May 14, 2005

New vigor at New Vernon

New Vernon Capital, a New Jersey based fund founded by former Merrill Lynch global executive VP Arshad Zakaria, has stepped up its investments in India. In May, the fund's Mauritus based investment arm, New Vernon Bharat, invested $5.4 million in Gurgaon-based publicly listed automobile components firm Rico Auto Industries Ltd and $7 million in Jagran TV Pvt. Ltd., the broadcasting arm of Kanpur-based publisher Jagran Prakashan.

Arun Natarajan is the Editor of TSJ Media, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of TSJ Media's Venture Intelligence India newsletters and reports.