Westbridge Capital Picks 20% Stake In Strand Genomics

WestBridge Capital Partners, a leading venture capital firm with $140 million under management, has picked a 20 per cent stake in Strand Genomics, a life sciences informatics company.

Another investor, UTI Venture Fund, has a 17.15 per cent stake in the company.

While WestBridge has picked up 20 per cent stake for $1.9 million, UTI has pumped in around $1.3 million for its 17.15 per cent stake which it picked up late 2001.

Both have committed to bring in a further $500,000 each over the next one year. The consolidated first round of investment in Strand is $4.6 million.

Strand currently has three software products as part of an end to end offering, the market for which is estimated to be around $250 million. The company expects to break even in the next couple of years.

 

A press statement from Strand said WestBridge