S.H. Khan to head infrastructure fund
New Delhi: Former chairman of the Industrial Development Bank of India S.H. Khan will head the urban infrastructure fund promoted by Feedback Ventures. Khan currently heads the IDBI-promoted credit rating agency Credit Analysis and Research.

The proposed fund will pick up equity in infrastructure start-ups and assume risks associated during the project development and financial closure stags. The fund will exit at the time of financial closure or project development in favour of the promoters or other long-term funds looking for stakes in such ventures. The fund will have a corpus of Rs 100 crore.
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Arya Bhattacherjee sells Arcus
Bangalore: Arya Bhattacherjee has become a multi-millionaire, after selling his semiconductor unit, Arcus Technology, to Cypress Semiconductor. But, he has not done this willingly. His inability to raise $10 million, and competition from global players like Sony, Fujitsu and Nortel compelled him to sell off the company he founded in 1991. The deal has made him and his 70-odd employees richer by $20 million.

The deal included payment through Cypress shares, whose prices have risen over 50 per cent since the deal was made in June 1999.

Mr Bhattacherjee, who had stints earlier at Intel in the US before he founded Arcus, says he had plans to have an initial public offering, but since that did not happen, he had to sell off his venture.
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