OTHERS

Swiss investments to go up

MUMBAI, NOV. 1. The Swiss Government, which has been funding new ventures for the past five years in India has decided to hike its investment through venture capital. This comes at a time when other VCs have slowed down their operations in India.

Already, $10.7 million of the committed $18 million has gone into 14 ventures in technology, pharmaceutical, food processing and packaging and floriculture businesses but given the promise with increased liberalisation of the economy, it would like to increase the funds flow in new ventures.

According to Dr. Walter G. Gyger, Swiss Ambassador, briefed the media here yesterday while launching the BTS Investment Advisors who will manage the Swiss Technology Venture Capital Fund here.

The Swiss, whose State Secretariat for Economic Affairs (SECO) established the fund first in 1997 found the business prospects excellent. Therefore, the Swiss would not only give it a ``higher profile and bigger presence" but ``more particularly increase the capital fund to $100 million and open it for private participation.

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