Venture capital firm Sandalwood Partners, famous for investing in the country’s first fab project

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SemIndia, is bullish on telecom related sectors and the solar sector for new investments.

According to Bob Kondamoori, MD of Sandalwood Partners, the $150-million VC fund is currently evaluating two big projects in the telecom space but is being cautious because of the current macro-economic environment. “One of them is in the space of packet-based network which would help usage of new generation of iPhones,” he said.

The other project is related to optical fibres.

Sandalwood Partners could invest about $20 million in each of these. Apart from telecom, Kondamoori sees a huge opportunity in clean technology and solar sector. “We are currently looking at two companies in field of energy management in the solar sector.”

The VC firm has recently led investment rounds in two companies. One is US-based Celestial Semiconductor which develops next generation chip products for media. It is now planning to set up a centre in India soon. The second is

a Bangalore-based retail luxury brand.

Declining to name the company, Kondamoori said the firm will soon bring out a luxury phone with a price tag starting from Rs 3 lakh.

On the current scenario in the VC space, he said that all the VCs are sitting on piles of cash and continuously evaluating prospective firms but are in a wait-and-watch mode before committing. “This is not happening just in India but globally,” he added.