Venus Capital To Launch India-Focused Fund

Mar 31 2006 | 12:15pm ET

Boston-based Venus Capital, which focuses exclusively on investing in Asia, is launching an event driven fund on April 1. Vik Mehrotra, founder and ceo of the firm, said the Venus Special Situations Fund will invest primarily in Indian securities and is being marketed to both U.S. and European investors.

"We aim to capitalize on inefficiencies in the [Indian] marketplace where information is difficult to get," he said. "There is no sell-side research covering event driven opportunities."

The Indian-born Mehrotra, who founded Venus Capital in 1994, has been investing in India for over 15 years. He feels his team's expertise in the region gives the firm an advantage over others who are less knowledgeable about the country. He said that India is full of investment opportunities, adding that although he believes his fund is the only one of its kind targeting U.S. investors, that Fidelity Investments is launching a similar India-focused fund, though Fidelity's will target Indian investors.

The firm has a team of eight analysts on the ground in India who conduct both quantitative and qualitative analysis. Mehrotra, who works out of the firm's headquarters in Boston, travels to the region about six times a year.

Ed Travers, a partner at Coolidge Rock Capital, who is marketing the fund said, "A lot of focus is going into India. These guys are there at the right time and they know the country intimately."

Venus' new fund will launch with $10 million in assets under management and has the capacity to take in up to $250 million. The minimum investment is $500,000 and there is a 90-day lock up period. Fees are 2% for management and 20% for performance.

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