United States-based software developer Oracle is looking for investment opportunities in the region with companies willing to adopt its Internet computing platform. Early this year, the company set up a US$100 million worldwide venture-capital fund to support Internet consulting, e-commerce and other business-to-business service firms. 'Many venture capital funds have been starting to look to the Asia Pacific for investment opportunities, as they find US Internet companies' high valuations becoming less attractive,' executive vice-president Gary Bloom said. Although Asia lagged behind the United States in adopting Internet technologies, some regional branches of multinational firms had already leap-frogged their parents, he said. After a seminar on Internet development in Asia, Mr Bloom said the small size of many Asian enterprises should not hinder Internet adoption. 'They are the ones that would actually benefit the most from Internet technologies,' he said, adding Oracle will provide solutions that require few company resources. Mr Bloom said the Asia Pacific had become the highest-growth region for the company. Regional revenues grew 34 per cent in the quarter to August 31, against 13 per cent for the group. Sales growth in the past year was about 13 per cent, up from less than 10 per cent when the region was mired in recession.
