The corporate venture capital arm of the Reliance ADA group, Reliance Technology Ventures today rebranded itself as Reliance Venture Asset Management with immediate effect and said it expects to close three-six deals worth a cumulative investment of $50 million in the first half of this year.
"We have revamped our strategy to exploit the investing potential in sectors such as clean technology, aerospace, defence, media and entertainment in addition to our mainstay of technology enabled companies. In line with this strategy, we are expected to close three-six deals in H1 2010 worth a cumulative investment of $50 million," Reliance Venture Asset Management CEO Harshal J Shah said.
The company's investment portfolio comprises promising firms such as Yatra.Com, Suvidhaa Infoserve, Stoke Inc, Pelago Inc, Sequans Communications, E-Band Communications, Seedfund and two MIT-startups, Dhama Innovations and Scalable Display Technologies.
Since its inception in early 2006, the company has advised or invested in deals to the tune of over $4 billion, the company said.