VCCircle

Some details about the exits and the returns from ChrysCapital's newsletter: Fund I has an IRR of 31 per cent. Fund II has an IRR of 41 per cent. Fund III is off to a good start.

Fund I is now fully realized as we sold the remaining portion of NIIT earlier in the year to lock in a 31% IRR for the fund. In Fund II, we exited out of IVRCL and TechTeam in May 2005. Yes Bank consummated a successful IPO shortly thereafter. We have now distributed a significant portion of the drawn down capital back to the investors and the rest of the portfolio continues to be in excellent condition.

Fund II is currently tracking to a 41% IRR. In Fund III, we consummated a partial exit from Suzlon in July 2005 to generate early returns for our investors. Suzlon has filed for an IPO expected later this year (VC Circle: We have an update on this exit that ChrysCap has made 1500 per cent returns). This fund is off to a stellar start and we will look to monetize investments over time.