Bertelsmann India Investments (BII), the Indian investment arm of the German media conglomerate Bertelsmann, has informed that it is investing “a multi-million-dollar amount” in India-focused investment vehicle Digital Nirvana Fund Co. Ltd.
This fund specifically invests in early-stage startups in the digital sector and is managed by the Indian venture capital Nirvana Venture Advisors, which currently manages two funds with a total endowment of $40.5 million.
Nirvana Ventures Advisors has made five investments in India so far – talent measurement and talent analytics platform Jombay (formerly YourNextLeap) in August 2011, online gaming company Games2Win in March 2012, prepaid payments program manager TransServ in July 2012, healthcare information exchange and authentication solution provider Remedinet (formerly HealthSprint) in January last year, and product review site Reviews42 in April last year.
Bertelsmann in India
Shobhna Mohn, Executive Vice President Emerging Markets at Bertelsmann said that they “now have holdings, with three partners, in renowned funds in India that focus on the digital or education sectors”.
It’s worth noting that BII is simultaneously making direct investments in India as well, and it currently has direct holdings in three Indian companies:
– Online furniture and home decor marketplace Pepperfry.com which raised $15 million from Bertelsmann India Investments and existing investor Norwest Venture Partners (NVP) last month.
– Online real estate portal IndiaProperty which raised $12 million from Bertelsmann India Investments, Canaan Partners and Mayfield Fund in December last year.
– Authorgen operates WizIQ had raised Rs 22 crore from Bertelsmann and Kaizen in January last year.
Bertelsmann’s Gruner+Jahr had also acquired NetworkPlay from Capital18 in March 2012. NetworkPlay had later acquired Smile Vun Group-backed mobile ad network Seventynine in November 2012 and had recently licensed the performance marketing & targeting solutions of the Sweden-based, NASDAQ listed performance marketing network Tradedoubler for India, South East Asia and Middle East regions. G+J also owns a majority 78.75% stake in the magazine publisher MaXposure Media Group, which it acquired in July 2011.