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Sify gets venture funding

CHENNAI: Satyam Infoway has announced the completion of the $13 million investment by the Softbank Asia Investment Fund (SAIF) and the $3.5 million first round of investment by VentureTech Solutions. The closing follows the announcement of the approval of shareholders of the investment at the extraordinary general meeting held on December 9. The second round of VentureTech's investment of $3.5 million is expected to be completed before April 30, 2003.

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