Capitalising on recent budget initiatives, Nextventures Ltd, is seeking Rs. 300 mn through a private placement to start a new fund.
Nextventures Fund One (Pvt) Ltd is a close-ended fund with a five-year life period.rn
rnThe fund will mainly invest in lquote knowledge and technology based companies like software, e-commerce, networking, wireless, Internet infrastructure and so on, explains Nissanka Weerasekera, CEO Nextventures Ltd.rn
rnThe issue is open to Sri Lankans, foreign individuals and corporate investors to put in a minimum Rs. 10 mn and multiples of Rs. 5 mn thereafter. Individual investors have a maximum limit of Rs. 50 mn.rn
rnFormerly known as Peoples Venture Investment Company (PVIC), Nextventures, is a venture capital fund management company primarily focused on investing in high-growth areas like technology and knowledge-based sectors including ICT start up companies.rn
rnWeerasekera says the new Fund will invest in ordinary and preferred equity or convertible debt of unlisted co