| The cash-rich investors are led by Belfast-based property maintenance and contracting services firm Red Sky Group. |
| Red Sky Group's Chairman Frank Cushnahan and Managing Director Norman Haynes concluded a six-day tour of India last week and the tour included meeting with officials of companies and visiting their offices in Chennai, Bangalore and Mumbai. |
| Red Sky Group, which posted a turnover of 60 million pounds sterling in 2006, sees "fantastic opportunities" for investments in India, said Cushnahan. |
| "Our approach is different from a typical venture capital investments. We will help companies to upgrade their products, assist them in product innovation and marketing them (products) in overseas markets," added Hayes. |
| "Unlike most venture capital organisations, our approach is to provide "active equity" in the acquired business by driving strategically led transformational change. The approach is designed to reduce investment risk and enhance value through more efficient use of assets and topline profitable sales growth. We will assist existing management personnel and as necessary, enhance capability through additional management expertise from our extensive contacts base," he said. |
| "Home-grown companies have been performing in a controlled culture till the last 3-5 years. A lot of companies have not commercialised themselves. But, now, we are trying to take some of the smaller companies, who are at Level A to Level C or D," he said. |
| Chairman Cushnahan, who was awarded the Commander of the Order of the British Empire in 2001 for his services to the Northern Ireland economy, said the growth rates achieved by the Indian economy over the last three years was commendable and this had triggered opportunities for companies. |
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