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Reliance Technology Ventures Rebranded; Time Line

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

Related:

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

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