Potential investors in Happiest Minds Technologies include media company International Data Group’s IDG Ventures India subsidiary, Sudhir Sethi, who was head of venture capital firm Walden India International when it invested in MindTree and is now founder and chairman of early stage venture capital firm, Walden India, Sequoia and one or two other venture capital firms, news provider Economic Times said.
Category: Deals
Envivio tapes up Nasdaq flotation
Investment banks Stifel Nicolaus Weisel and Piper Jaffray are co-lead underwriters of Envivio’s initial public offering (IPO) and the company posted a $2m net loss on $30m of revenues last year, according to its regulatory filing.
RenRen sets up NY listing
Softbank owns 39.6% of RenRen after buying more than a third of the company in 2008’s series D round for $415m and will be diluted to 34.2% after the initial public offering.
Cleartrip concurs on $40m deal
Concur Technologies has agreed to pay $40m for a minority stake in India-based online travel site Cleartrip.
Merck keeps its ImpactRx
Private equity firm Symphony Technology Group has acquired a majority ownership interest in ImpactRx, leaving Merck Capital Ventures, the corporate venturing unit of US-based drugs group Merck, a shareholder.
China sees corporate venturing growth
Corporate venturing units backed 94 deals, 8.1% of the total venture capital market, between 2007 and 2010, using information from data provider Dow Jones.
Merck-Serono starts Israeli incubator
Germany- based drugs maker Merck’s biotech division is reportedly about to set up an incubator in Israel, operated by its research facility, InterLab. Merck Serono will invest €10m ($14m) in the venture over seven years and provide a further €3m over the next three years for start-up companies in high tech and life sciences, news… Continue reading Merck-Serono starts Israeli incubator
CoachClub finds funding tip works
France-based video coaching service CoachClub has raised €5m ($7m) from a consortium including local phone operator France Telecom’s corporate venturing unit, Innovacom. The other investor was venture capital firm Serena Capital. CoachClub has 100,000 members since starting in January last year and will use the money to expand outside of France. Thierry Pépin, executive chairman… Continue reading CoachClub finds funding tip works
Stingray Geophysical in TGS shockwave
TGS will pay $45m initially and up to $35m in performance fees for Stingray Geophysical.
SR One uses the F-star
Alongside SR One backing F-star are Germany-based drugs maker Merck Serono’s corporate venturing unit, MP Healthcare Venture, a jointly owned subsidiary of Mitsubishi Tanabe Pharma and its parent company Mitsubishi Chemical, and venture capital firms Atlas Venture, Aescap Venture, Novo Ventures and TVM Capital.
Nuevo Midstream starts with $65m
US-based natural gas production start-up Nuevo Midstream has raised $65m from EnCap Energy Infrastructure Fund, Torch Energy Advisors and Petroleum Fuels Company.
Capella learns to love Innov8
SingTel Innov8, the corporate venturing unit of Singapore-based phone operator SingTel Group, backs US-based network equipment maker Capella Intelligent Subsystems.
Rogers makes first deal with Payfone
Rogers has been setting up its venture operation, Rogers Ventures, with a team led by Greg Tarr and struck its first deal in Payfone, which has also taken on a strategic investment from credit card company American Express
RMG Networks buys EMN
RMG acquires peer EMN, which provides place-based videos in airport executive lounges, such as United, Continental, Delta, US Airways and Alaska.