HSBC Private Equity has invested Rs 30 crore or $7.5 million for a minority stake in Delhi based software product company Newgen Software Technologies Ltd. The investment has been done by a wholly owned subsidiary of the HSBC Asian Ventures Fund Ltd.
Newgen provides enterprise software solutions for business process management and content management in banking, financial services and insurance (BFSI), BPO, and the telecom and government segments. The company sells its products in India, the Middle East, Africa, and South East Asia, and is now looking at tapping new markets in North America, Latin America, Western and Central Europe, Central Asia and the Far East, a release said.
Citigroup Venture Capital International had earlier invested in this company in the mid-1990’s. They exited though a promoter buyback in early 2000. Right now, HSBC PE is the only institutional investor in the company.

Posted on 01/8/08, 10:38 AM
in: Deals, Private Equity
RSS 2.0, You can skip to the end and Respond. Pinging closed.