Reliance Tech looks beyond technology for investments

Reliance Technology Venture Limited (RTVL), the venture capital arm of the Anil Dhirubhai Ambani Group, is planning to look beyond technology and invest in newer avenues.

The only venture capital fund in the industry to have invested from its proprietary book — the company has so far invested $4 billion from its prop book — says that more conglomerates will soon take this route to expand their presence.

“We still look for technology enabled businesses or companies that might be in a position to scale off in such a manner that technology can be associated with. Today, even in agriculture, healthcare and finance one can apply technology,” said Chief Executive Officer Harshal J Shah.

Since 2006, RTVL has invested in 11 companies in the range of $0.25-30 million. It has invested in IT, ITeS, media and entertainment, internet services, consumer technology, wireless application infrastructure and next generation networks.

On investing from the prop book, Shah said, “We do have contacts with widespread presence. Within Reliance, we have the ability to go deep and within. We help our clients with office space, contacts within and outside our ecosystem. We have a lot of access to customers.”

RTVL has invested in Yatra.com that got operational in eight months. Yatra stood neck-to-neck with competitor makemytrip.com after another eight months. However, the company is not planning to exit from any of its investments now.

The venture capital has not raised funds from the market. It has provided advisory services and invested $300 million in Yipes holdings and $82 million in Vanco. It has invested $500 million in Rel Wimax world.

In most of the cases, the VC has been investing with a partner. For instance, in Suvidha Infoserve it invested along with Norwest and TV 18.