Kohli Ventures to commit upto Rs. 1000 cr in solar project of Zynergy.

UK-based Kohli Ventures, a global venture capital company, has committed to bring in an investment of $100 million into Zynery Group, an emerging solar products and process player based in Chennai and Singapore, over next three years. The venture capital firm is willing to commit upto Rs. 1,000 crore in the solar company on a long term basis, said Tej Kohli, chairman of Kohli Ventures.

The firm has already made an initial investment of $5 million and has committed to bring in $100 million from diverse sources in equity, debt and other means into the company over next three years, said the company officials. This is the first investment of Kohli Ventures in Indian solar sector.

'Kohli Ventures is fully committed to this project and we are willing to commit upto a Rs. 1000 crore over the next few years for this endeavour. We are also going to get Zynery some other contracts Middle East, Africa, Far East, Cambodia and many others,' said Tej Kohli, chairman of Kohli Ventures. The company is looking at a long term investment and would stay with the solar firm to see the social benefits of the project, he added.

'We are the type of company that invest in disruptive technoloies, we believe in demonetisation, dematerialisation and democratisation. We are very selective in companies we back. We have backed some good companies and continue to look for good ventures. At this stage of our growth we are insisting that all our ventures not only have an economic benefit but also has a social impact. The company is here to assist Zynergy financially and expand globally, better governance etc,' he added.

BS