GOOGLE TAKING 30% STAKE IN VENTUREAST & APIDC FUND (the fund will invest in start up IT companies)
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[July 16, 2007]

GOOGLE TAKING 30% STAKE IN VENTUREAST & APIDC FUND (the fund will invest in start up IT companies)

(India Business Insight Via Thomson Dialog NewsEdge) Google, through Google Holdings Singapore, is acquiring roughly 30 percent stake in Ventureast Tenet Fund II, a venture capital (VC) fund of Ventureast and Andhra Pradesh Industrial Development Corporation (APIDC).



The $15 million fund, which has been registered as a domestic VC fund under SEBI, will invest in start- up IT companies focused on small and medium enterprises sector, IT and communications technology sectors and environment oriented technology sectors.

Copyright 2007 Informatics (India) Ltd, Source: The Financial Times Limited

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