Anil Ambani fund to double investments

Anil Ambani’s venture fund plans to invest in areas including clean technologies as it doubles investments over the next three years.

Reliance Venture Asset Management, which has invested about $100 million in 11 companies, saw opportunities in aerospace, media and entertainment, financial services and health-care, said Harshal Shah, chief executive officer at the venture capital unit, said in an interview in Mumbai on Wednesday.

“We see lot of opportunities that are going to be happening at the cusp of multiple markets and between developing and developed economies,” said Shah, 39, who has been with the fund since its inception in 2005. “We hope to bridge the gap between India and the rest of the world.”

Reliance Venture, the exclusive Indian partner for Massachusetts Institute of Technology’s entrepreneurship competition, has invested about 30 per cent of its funds in US-based companies, 60 per cent in India, and the rest elsewhere, Shah said.