The corporate venturing unit of India-based conglomerate Reliance Group reportedly plans to invest $50m to $75m in early stage companies this year.
News provider Mint quoted Harshal Shah, chief executive of Reliance Venture Asset Management (RVAM), saying: "We’re looking to invest this money across sectors like healthcare, aerospace and defence, and clean tech."
A reported $20m will be invested in three deals due to close in three months, Shah said.
RVAM, which typically makes investments of $1m to $15m, has so far deployed $150m across 18 deals over the past four years, including India-based AllGreen Energy, Yatra Online, Reverse Logistics and Dhama Innovations; and US-based firms Stoke and Sequans Communications.
RVAM is looking to list and exit from Yatra, in which it had invested five years ago, following last year’s flotation of online travel portal MakeMyTrip on Nasdaq or Indian stock exchanges, Mint said.
MakeMyTrip, whose stock soared to three times its initial public offer (IPO) price of $14 per share, raised $80.5m on listing in August.
Shah said besides Yatra, RVAM is also looking to list Sequans on the Nasdaq, and may exit Stoke.