Sasken invests in US venture capital firm

Sasken Communication Technologies Ltd, the Bangalore-based embedded communications solutions provider, said in its annual report for 2007-08 it invested about Rs 5.9 crore in the US-based venture capital firm OmniCapital as equity.

In a letter to shareholders, Mr Rajiv Mody, Chairman and Managing Director, Sasken, said the investment provides opportunities for mutually beneficial strategic partnerships with OmniCapital portfolio companies.

OmniCapital, led by Dr Arun Netravali who is the Managing Partner, provides early stage funding for information technology companies in the US.

Dr Netravali is a former President of Bell Laboratories, where the UNIX operating system and the C programming language had been developed.

http://www.moneycontrol.com/india/news/business/sasken-investsus-

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Sasken invests in US venture capital firm