Webel acts as the single window support centre for all services required by the IT & ITES investors in the state of West Bengal. Investors are requested to contact us for more details. Webel acts as the single window support centre for all services required by the IT & ITES investors in the state of West Bengal. Investors are requested to contact us for more details.
Venture Capital
Inspite of the recession today, the venture capitalists are still investing, the reason being the fact that now is a much less distracting time than 12 months back - lesser noise, lesser competition, and lesser irrationality. This is especially true in areas where the customer demand is unaffected - for technology-oriented businesses, this means more of consumer internet, mobile VAS, education and healthcare businesses. And perhaps less of software products and offshore services, even though specific industries there continue to do well. more...
Project selection process:
Webel Venture Capital Ltd (WVCL) asks the entrepreneurs to submit the Detailed Project Report (as per prescribed format) for appraisal.
The Project Report is sent to IIT Kharagpur for preliminary technical appraisal
Based on recommendation/ Reports of IIT KGP, the Project Report is placed before the Screening Committee of WVCL and the entrepreneurs is advised to give their presentation before the Screening Committee Members.
On acceptance of the Project Proposal by Screening Committee of WVCL the Project Report is sent to the External Consultant [West Bengal Consultancy Organisation Ltd (Webcon)] for appraisal of the Project Proposal.
Based on recommendation/ Report (for funding) by the External Consultant (Webcon), a Due Diligence exercise is done by an external expert/ consultant (appointed by WVCL).
Thereafter the approval of MIC IT is obtained for funding the Project Proposal.
After obtaining the approval of MIC IT, a Share Subscription & Investors Right Agreement is signed between the concerned V.C Unit and WVCL.
After signing of the Share Subscription & Investors Right Agreement with the concerned V.C Unit and based on the projection submitted by the V.C Unit, fund is disbursed (in phases) by WVCL to the V.C. Unit.
Currently five companies have been provided funds by WVCL in areas of RFID tags with sensors, Data Leak prevention, Cellular based applications, System solution for advanced video analytics system and power factor correction. Funding is in the form of soft loans and equity. The investing cycle for most funds is generally three to five years for a business start-up, usually in exchange for convertible debt or ownership equity, after which the focus is managing and making follow-on investments in an existing portfolio. WVCL provides capital after establishing an escrow account and after conducting a post-money valuation to determine how much equity to demand in return for the finance injection to an entrepreneur. For WVCL the focus however is not only in the financing element aimed at long term capital appreciation, but also engagement, advice, coaching and everything else that goes into enabling entrepreneurship. In the final analysis, WVCL continues to energise the ecosystem by being a more effective matchmaker and guide to the aspiring talent in Bengal.