PIPE Deals: All the Rage in India, Too
According to Indian newspaper Mint, VC-backed PIPE deals aren't just on the rise in the United States. Companies trading on the Bombay Stock Exchange and the National Stock Exchange of India also are attracting the interest of venture investors, including some with strong U.S. ties. In the most recent example, NVP India, the Indian arm of Silicon Valley-based venture capital firm Norwest Venture Partners, just invested $15 million in OnMobile Global, a publicly traded spin-off of Infosys Technologies, for what roughly amounts to a 5 percent stake in the company. OnMobile was originally incorporated in California in 2000. The now Bangalore-based company sells "value-added services" for cell phones, like multimedia push services.
16 March 2009•2 mins read
