Insight Capital launches Asia IT fund

NEW DELHI: US-based Insight Capital Partners on Wednesday announced the
launch of an Asia fund jointly with Microsoft Corp , i2 Technologies and an
investment firm representing chairman of Dell Computer Corp Michael Dell.

The private equity fund, called ConnectCapital, will incubate information
technology and remote service businesses for a global market, partner in Insight
Capital Ramanan Raghavendran told a news conference.

He said the size of the fund, which will focus on India as part of its Asia
strategy, would total between $250 million and $400 million over a two- to
three-year period.

He said the fund expected an annual disbursal of $75-100 million, mostly in
India probably spread over 10 startups.

Microsoft Corp. has already invested $5 million in Chrysalis Capital, a
venture capital fund for Indian entrepreneurs.

(C) Reuters Limited 2000.