Small units and start-ups can now look at indigenous venture capital and private equity for funding as they have made rapid strides in India in the past decade, senior principal investment manager of Ventureast Life Fund Krishna Meka said.
The route offers enormous scope for small units and start-ups to scale up their operations, he said speaking here on Saturday at a session on ‘How to scale up your enterprise’, organised jointly by the Confederation of Indian Industry and Business Line, as a part of roadshow to promote CII Emerging Entrepreneur Awards in the Southern Region. The event was sponsored by the Indian Overseas Bank.
According to some studies in the next six years or so $75 billion would come into the country through the venture capital/private equity route. "The start-ups and small units can make use of the opportunity to upgrade and upscale their operations. Venture capital funds such as Ventureast not only offer the funding but they would also provide the technical assistance and other forms of help. Funding is no problem, if you have the right idea," he said.
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“Andhra Pradesh, it is said, is second in the country in entrepreneurship after Gujarat and Visakhapatnam region holds great promise for growth,” he said.His fund had so far financed 60 companies in South India to the extent of $ 300 million, mainly in the States of AP, Tamil Nadu and Karnataka. "We have offices in Hyderabad and Chennai and later we may set up an office here," he added. Earlier, Rana Uppalapati, a local entrepreneur and business associate of Titan Industries Limited, narrated the success story of his company and how he could increase the turnover from Rs 5 crore to more than Rs 50 crore in less than a decade. CEO of Maple Software Pvt. Ltd. G.S Shiv Kumar presided.