IDG Ventures and Vertex Lead an INR1.4 Billion Financing Round in (Asia)

Source: The Economic Times  |  Author(s): Biswarup Gooptu

Venture capital firm IDG Ventures India and Vertex Venture Holdings, the venture investment arm of Singapore’s sovereign wealth fund Temasek, have led an INR1.4 billion (approximately US$23.1 million) financing round in India-based online travel company Existing investors venture capital firm Norwest Venture Partners, Intel Corporation’s venture capital arm Intel Capital, media company TV18 Group and Reliance Group’s corporate venture capital arm Reliance Venture Asset Management also participated. In addition, the investors committed another INR1.4 billion (approximately US$23.1 million) for future acquisitions. To date, the company has made four acquisitions, including India-based event ticketing company Buzzintown and India-based online hotel distribution network TravelGuru.