``We have injected about $6 million in the other five companies over a period of a few months,'' Walden-Nikko India Management Co Ltd director and chief representative Sudhir K Sethi said.

The companies include Teleshopping Network, a part of the UTC group of Mumbai, TechSpan India, Accelerated Networks, Invox and Digital Tools of the US. The funds for these investments were allotted from the company's India venture capital fund.

While Digital Tools has a wholly-owned software development unit in Mumbai, Accelerated Networks is in theprocess of setting up its networking equipment development centre in the country, he said.

Sethi said WIIG, which manages funds about $1.2 billion, provides seed and start-up capital for emerging growth companies as well as capital for expansion and acquisitions. WIIG has invested in more than 200 companies worldwide.

Having a liaison office in Mumbai, Walden-Nikko India Ventures Co (WNIV), co-sponsored by WIIG and Nikko Capital Company Ltd, is a $23 million fund focused in investment opportunities in India. In addition to the $23 million, various other WIIG global funds have allocated an additional $40 million to invest in India.

WIIG's family of funds consists of regional funds, country funds and industry funds. ``The group targets investment in high growth industries like information technology, telecommunication, healthcare, semiconductors, Internet and media,'' Sethi said.

WIIG is an affiliate of Walden Group of Venture Capital Funds which was set up in San Francisco in 1974. WIIG has set upoffices in Taiwan, Singapore, Malaysia, Hong Kong, China, Philippines, Indonesia and Australia.