Google boosts its venture capital investments in India

By SiliconIndia   |   Monday, 29 October 2007, 07:00 Hrs
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New Delhi: Google has announced two partnerships that further its commitment to fostering innovation in India. Google has invested in the early stage venture capital fund Ventureast TeNet Fund II - a seed-stage fund run by the Tenet Group of IIT, Madras and Ventureast Fund Advisors. It has also joined the Indian Angel Network, an organization of professionals and companies dedicated to supporting entrepreneurship in India.

"The early stages of venture capital financing are underserved in the Indian market, despite their critical importance to the innovation chain, said Samir Sood, Head of Corporate Development for South Asia, Google. "These partnerships will help us nurture the growth of start-ups and build a dynamic entrepreneurial environment in India."

Earlier this year Google invested in the venture capital funds Erasmic and Seedfund. Google's investment strategy has been to seek out unique products, technologies and engineering teams that can help it provide innovative products to users or enhance existing services.

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