Reliance Technology Ventures Ltd, the venture capital subsidiary of Reliance ADA Group,  has been re branded as Reliance Venture Asset Management Ltd, reports VCCircle. The company is looking beyond technology-enabled businesses, and will focus in sustainable companies following a sector, stage and geography agnostic investment approach. RVAM also plans to invest $50 million in 3 to 6 deals in the first half of 2010.

The subsidiary was launched in 2006 to incubate new business ideas and invest in emerging and high-growth technologies and has advised and or invested in deals worth over $4 billion. It also advised Reliance on the $300 million acquisition of Yipes Inc by Reliance Communication, $82 million acquisition of Vanpo Plc and eWaveWorld.

Timeline Of RTVL Investments:

December 2006: Reliance Capital among others contributed to Seefund’s starting corpus of Rs 450 – 600 million
December 2007: RTVL invested an undisclosed amount in US based Stoke Inc and E – Band Communications
Feb 2008: Invested in WiMAX chip maker Sequans Communications
May 2008: Reliance invested in mobile social networking site Pelago, which has the product Whrrl.
September 2008: RTVL and Norwest Venture Partners India made an undisclosed investment in Suvidhaa Infoserve
April 2009: Stoke Inc raises $15 million in Series D funding from  RTVL and others.
June 2009: RTVL and Mumbai Angels invest in Hyderabad based climate conditioning apparel company Dhama Apparel Innovations Pvt. Ltd


RTVL Backed Co Stoke Raises $15M In Fourth Round Of Funding; RTVLs Telecom Portfolio
Suvidhaa Infoserve Raises Funds From NVP And Reliance Tech Ventures