KVP Venture to invest in 4 cos.

NEW DELHI: KVP Venture, Rs 1100 crore venture capital fund, floated by

Australian media baron Kerry Packer, has announced strategic investments in four

software and Internet companies, including Walchand Netsoft and Hexaware

Technologies. The fund announced that it is acquiring 33 per cent in Walchand

Netsoft, 15 per cent stake in Hexaware Technologies, and 10 per cent each in

Omega Portals and Radiant Software.

KVP Venture, which also has HFCL chairman Vinay Maloo and stock broker Ketan

Parekh as promoters, would take a 33 per cent stake in cricketnext.com, cricket

portal promoted by Sanjay Jha and Pallavi Jha through their privately held

company Walchand Netsoft.

The fund would also take 10 per cent stake in educational portal

mykindasite.com promoted by Omega Portals Ltd, the statement said, adding the

site has recorded three million hits since its launch in December 1999. Targeted

at children between the age of three and 15 years, the portal has various

features including content on academics, games, music and quiz programmes, it

added.

In addition, KVP Venture is also investing 10 per cent stake in Radiant

Software that is into software training and consultancy. Promoted by IT

entrepreneurs S Giridharan, G Gita and V Sridhar, the company's clientele

includes Citibank, Satyam Computers, Cognizant, Alcatela and Britannia