Ashok Soota, a serial entrepreneur in India, is reportedly planning to raise money for his start-up, Happiest Minds Technologies, from a consortium to potentially include corporate venturing units.
Soota previously set up outsourcing company MindTree. His potential investors 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.
Happiest Minds could raise up to $45m for about 15% to 20%, Economic Times said.