| IDEA , IEP and GSC
Launch eTEC Ventures LLC |
International Equity Partners, LP (IEP) Washington DC area venture capital firm Indian
Direct Equity Advisors Pvt. Ltd.(IDEA) a Mumbai based announced the launch of their second
India-focussed venture capital fund, eTEC Ventures LLC (eTEC).GSC partners, a global $3
billion private equity firm, leads eTEC's group of investors with a $25 milion capital
commitment.eTEC will remain open for additional subscriptions through March 2001. eTEC is
a Mauritius domiciled limited liability company that will invest in new and existing
ventures in the technology, entertainment and communication sectors. eTEC will invest
primarily in Indian companies but also in ventures in the US and other countries that
benefit substantially from the huge mindpool of technology skilled labor available in
India. eTEC will typically take substantial minority stakes in its target companies and
pursue addition stratgies to help acquire customers, establish strategic alliances, and
secure further rounds of financing. |
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