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Thursday, November 23, 2006

UTI Ventures invests USD 6 MN in Vallabhdas Kanji

Bangalore based UTI Venture Funds (UVF), the Private Equity arm of Unit Trust of India (UTI) group , has made a private equity investment worth USD six million in Vallabhdas Kanji Limited through its Ascent India Fund.VKL is part of the Rs 500 crore Kanji Morarji Group, that includes Kancor Flavours and Extracts and Auto Hangar (India). Presently, UVF manages two funds - Ascent India Fund and India Technology Venture Unit Scheme (ITVUS). Its portfolio includes Subex systems,HBL Nife Power systems, Ramakrishna Forgings.

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