Google invests in early stage VC funds in India.
Economic Times (New Delhi, India), February, 2007
Feb. 15--HYDERABAD, India -- Google Inc has invested in two early stage venture capital funds, Seedfund and Erasmic, in India. These funds will identify, nurture and finance innovative startups, according to a release issued by Google.
"While the rush of large amounts of venture capital into India is well-documented, very little of this trickles down to small firms -- the early-stage startups. Our effort is to build this gap by investing in these funds," said Samir Sood, head (corporate development -- South Asia), Google. India is the first country where Google has made a limited partner investment in early stage funds. The company did not divulge the financial details.
According to him, these early infusions of capital provide an impetus for...
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