Reliance Venture Asset Management (RVAM) has upped the earlier allocation of $50 million for investments to up to $125 million for FY 11 and correspondingly, there will also be a spike in the number of deals it closes to ten or above, a top company official said.
“We had planned for 3-6 deals in the first-half (of FY 11). We have already concluded four, are close to a fifth and will do three-to-six more in the next six-months. It is an exciting year which will see us investing up to $125 million,” RVAM Chief Executive Officer Harshal Shah told PTI here.
Shah said it is an “excellent time for investing” because of the positive macro-economic factors, better quality business plans it is receiving and reasonable expectations on valuations, prompting RVAM to redraw its yearly targets.
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