Media corporation Bertelsmann has invested a ‘multi-million dollar’ amount in the Digital Nirvana Fund, an early-stage fund run by India-based early-stage venture capital firm Nirvana Venture Advisors.
Nirvana manages two funds with a total endowment of $40.5m, and targets early-stage digital startups.
The three India-based startups in Bertelsmann’s portfolio comprise an online home and lifestyle store Pepperfry, India Property Online, an information site for buying, selling and renting properties in India, and online learning and teaching platform WizIQ.
Shobhna Mohn, executive vice-president of emerging markets for Bertelsmann, said: “Expanding our business in India is an important part of Bertelsmann’s growth strategy. We now have holdings, with three partners, in renowned funds in India that focus on the digital or education sectors, which are important to our strategy. We are also and simultaneously investing directly in selected companies that are of strategic relevance for us.”