Microsoft Corp., the world’s largest software maker, and Intel Corp., the biggest chip maker, said they have started a website that allows Asian technology firms to set up connections with venture funds and governments.
The operators of www.softwareAP.net also include New York’s Group Intelligence Inc., which helps firms manage databases and create Internet portals, Red Herring Communications Inc. and Asian Venture Capital Journal, said John Hammelstad, director of Microsoft’s venture capital and emerging business.
Asian Venture Capital Journal is a Hong Kong-based weekly publication on private equity (PE) and venture capital in Asia, while Red Herring publishes a magazine focusing on computer-related firms and venture capitalists (VCs).
“It’s like we are arranging for a first date” between tech entrepreneurs and VCs, he said.
PE funds are expanding in Asia, where growth is outpacing that of the US and Europe. They raised $32 billion (Rs1.47 lakh crore then) last year, a third more than in 2005, says Asian Venture.
The service is free for now, and Microsoft may decide later to charge governments that want to be listed.