Extracts from the interview with Sanjiv Singhal, Managing Director of BanyanTree Finance (the advisor to the BanyanTree Growth Capital fund) that appeared in the Venture Intelligence India Roundup-2009 report (that provides a synopsis of Private Equity investments during the year). BanyanTree is a $125 million Private Equity fund that provides capital to middle-market companies in India with promising growth prospects. It was among the most active investors in 2009. Venture Intelligence: What is BanyanTree's investment strategy? Sanjiv Singhal: We like to focus on the underserved spaces. The manufacturing sector gets a disproportionately small share of PE investments in India – especially when you consider that we are the seventh largest industrial economy in the world. For most people, doing a deal in manufacturing is time consuming and maybe not as glamorous as doing a telecom tower deal, etc. But this sector is our happy hunting ground. At a company level, we try to provide ca...