Global Internet Ventures to invest $150 m. in India

NEW DELHI: Global Internet Ventures LLC (GIV), a US-based venture capital

company, has announced its India operations, with a corpus of $150 million. GIV

focuses on developing, operating and investing in Internet and technology

companies, especially in India and China. Founder of VeriFone, Transaction

Network Systems and Cybercash William Melton, is also the founder and Chairman

of the Board of Directors of GIV.

According to Melton, companies will be built in two ways–by incubating

young dynamic firms by providing financial, infrastructure, and operating

support and by investing in newly formed companies. The incubator model has been

set up in association with the Indian Institute of Management, Bangalore.

"While the company will consider several types of technology businesses,

we believe a substantial opportunity exists in Internet-related businesses

globally. The Internet is changing and opportunity exists in Internet-related

businesses globally. The Internet is changing the nature of personal

communication and rearranging the competitive landscape of businesses around the

world dramatically. We will participate proactively in creating businesses where

we have a unique competitive advantage through market insight, access to highly

skilled management teams, or through our network of portfolio companies,"

said Melton.