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Garnett & Helfrich Capital expands operations to India18/10/2006. Source: AltAssets. 
 Garnett & Helfrich Capital, a US private equity firm specialising in venture buy-outs, has announced that it will expand its operations to India. Garnett & Helfrich will locate their new office in the financial centre of Mumbai with the aim of supporting its portfolio companies in the region and identifying new acquisition targets for its venture buy-out fund.
Garnett & Helfrich has also announced that it has acquired a controlling stake in Celunite, a privately-held company with headquarters in Sunnyvale, California and development centres in Pune and Hyderabad, India.
Garnett & Helfrich is a $350m private equity fund focused exclusively on the emerging venture buy-out segment for mid-sized technology spin-outs. The firm specialises in spinning out businesses from large global technology companies and growing them as focused, standalone businesses.
Terry Garnett, managing director, Garnett & Helfrich, said, 'India is a hub of technology innovation and talent, thus it is critical that we continue to expand our portfolio companies' presence in the region by helping them build new partnerships, recruit local talent, and identify and evaluate acquisition targets.'
'We will also leverage our Mumbai-based operations to identify new investments in leading technology sectors such as open source mobile platforms like Celunite,' Garnett continued.
Garnett & Helfrich investments include Wyse Technology, Ingres and Blade Network Technologies.
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