US-based global asset management firm The Carlyle Group and private equity multinational IDG Ventures are reportedly among the investors looking to finance Indian businessman Ashok Soota’s new India-based venture, Happiest Minds, according to the Indian newspaper Business Standard. The amount is reported to be as high as $25m.
IDG Ventures’ India subsidiary has been marked as a potential backer since April, though news of Carlyle’s interest is relatively new. Soota was a co-founder of the India-based information technology (IT) consultancy and outsourcing company Mindtree before quitting earlier this year to launch Happiest Minds.
Founded in April this year, Happiest Minds provides an integrated IT infrastructure for businesses which includes cloud computing, mobility, analytics and security.