Baseline launches investment firm

Hyderabad: Baseline, a private-equity company, has launched an India-specific firm to invest in medium-sized companies that have potential to grow. The company plans to invest in the range of $50-100 million in the first year. 'We will focus on sectors like energy, retail, technology, life sciences, infrastructure,' Mr Bharani Bobba, a partner in Baseline, said.

Addressing a press conference here on Wednesday, he said Wexford Capital LLC, the US investment advisor with over $7 billion of assets under management, would provide the initial capital. He said the company was in talks with a few firms for possible opportunities of investment. Dr Ramesh Babu Byrapaneni, another partner in Baseline, said the PE firm was close to concluding a deal. He, however, didn't name the company.