SAIF Partners, Accel Partners and Network18 Invest INR1.5 Billion in Bigtree Entertainment (Asia)
Source: VCCircle | Author(s): Nikita Peer
India-based Bigtree Entertainment, which owns online entertainment ticketing website BookMyShow, has raised INR1.5 billion (approximately US$25 million) from venture capital firms SAIF Partners and Accel Partners and media company Network18. The transaction valued the company at more than INR10 billion (approximately US$166 million). Accel Partners previously invested INR1 billion (approximately US$18 million) in 2012. Bigtree Entertainment intends to use the latest investment to increase its presence in India, build its infrastructure and expand its offerings.