ShekharKapur@venturecapitalist.com

ShekharKapur@venturecapitalist.com
DEV CHATTERJEE

MARCH 31: After acting, directing, producing and jet-setting, film-maker Shekhar Kapur is gearing up for a brand new role: as a venture capitalist. Kapur is eyeing Indian infotech and media companies which are touching dizzying highs on the stock markets for investments of over Rs 220 crore through his recently launched company, Softtechnet.com.

Kapur, who addressed the FICCI seminar being held on the film industry, said his company has identified India as a key market for infotech and media firms. ``The Rs 220 crore fund will be invested over the next 12 months,'' Kapoor told Mumbai Newsline. ``After that, we will bring in more funds for the industry depending on our experience,'' he added.

``But let me clarify this fund will not invest in movie making as we are completely focused on IT, dotcom and media companies,'' Kapoor said. ``... or I'll have filmmakers from all over the country calling me up seeking finance for movies,'' he added hastily.

`We are currently in talks with several dotcom ventures in India to pick up a stake. As the talks are in advanced stage and high competition among venture capitalist, we can't disclose details. But I hope to make some announcements soon,'' Kapoor said.

Softtechnet.com would also be investing in dotcoms in United Kingdom and the United States. ``We are relying on non-resident Indians who have made big in the Silicon valley,'' added Kapur.

Softtechnet.com was listed on London's Alternative Investment Market and its $ 20 million issue was oversubscribed three times over. Over $ 20 million was invested by institutional investors who wanted to make an indirect entry into the Indian infotech industry. The shares are currently traded on premium, showing the investors' renewed faith in the company.

The company has high profile investors like UK-based currey king, Ghulam Noon, America Online Europe's vice president, David Fisher and David Spencer former Chief Executive of investment bank, BZW.

The suave director, who is flying to South Africa to begin shooting for his his latest biopic Mandela, said Indian software industry and television software companies are comparable to world standards. ``We would invest 50 per cent our fund in India while the rest would be across the world,'' added Kapur.

Though Indian stock markets are bullish on the media and dot com shares, Kapoor has no plans to list Softtechnet,com in India. ``The companies in which we will invest will seek a listing in the Indian stock markets.. But Softtechnet.com is more focused on global markets rather than the Indian market only,'' informed Kapur.

Kapur is not the only media personality who is bullish on Indian infotech sector. On Monday, Australian media tycoon, Kerry Packer has announced to invest $ 300 million in infotech and media start-ups. Packer, along with stock broker Ketan Parekh, are also eyeing media companies which are looking for angle funding.