VCCircle

I met Mukul Gulati, a managing partner at Peacock Partners, at ContentSutra mixer in Delhi last week. The New York-based venture firm is setting up its India venture fund with some $75 million in capital to invest.

Its headquarters will be in Bangalore and Gulati and his other partner Kartik C. Parija are currently scouting for real estate to house their office. The fund is likely to kick off its operations in January 2006. As Gulati was in Delhi last week, he decided to attend the mixer to figure out what was happening in Indian market. He is looking at early stage technology companies to invest.

Gulati, who was based in New York and now moving lock, stock and barrel to Bangalore, is excited about Indian market and has been watching the Indian scene for the last one year.

Arun Natarajan writes about the soft launch of another early stage technology VC fund, Mentor Partners, in Bangalore. "The firm plans to initially invest $1 million each in 10 product-focused companies in the IT and telecom space: around $500,000 as seed investment or "bridge loan" and the remaining as part of the first round investment along with other Venture Capital firms," Natarajan writes.