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3i makes two investments in two days

3i has made its second investment in two days as it returns to a third round of $125m fundraising for an Indian broadcaster alongside a US supplier of networking equipment for the internet and Oman Investment Fund.

3i, Europe’s largest quoted  private equity firm; Cisco, a US supplier of networking equipment for the internet, and Oman Investment Fund, have invested about $125 million (€95 million) in the third round of fundraising for Indian broadcaster Nimbus Communications, a statement said.

Nimbus: funding to boost Indian film production

It is 3i’s second round of investment in Nimbus.  The firm invested $45 million in August 2005.

It is the first investment in India for Oman Investment Fund, which was formed in 2006, and invests in companies across all sectors and in real estate globally.  The fund’s largest shareholder is the Government of the Sultanate of Oman.

To date Nimbus has received about $200 million of private equity investment.

The investment is in the form of compulsorily convertible bonds that will convert into equity based on a pre-set formula, before an initial public offering or trade sale, a statement said.

The investment will fund sports rights acquisitions, develop global sports events, finance Indian language and international film production and distribution, develop further digital content production for wireless and video on demand and internet protocol television platforms and expand the broadcasting operations of the company, according to a statement.

Euromax Capital, a London-based investment banking boutique, and Enam Financial Consultants, a Mumbai-based financial services company, advised Nimbus.

Yesterday 3i closed a financing round for Glucon, a US medical technology company.  No financial details were disclosed.