WestBridge to invest in Times Internet

Televisionpoint.com Team
India’s largest venture capital fund WestBridge Capital Partners on Tuesday announced plans to invest an undisclosed amount in Times Internet Ltd (TIL), the digital venture of the country’s largest media conglomerate, Bennett, Coleman & Company Ltd (BCCL).

The fund will be used to finance TIL’s future acquisitions, besides strengthening its presence in the internet and mobile markets. Following this infusion, Westbridge Capital’s senior managing director Sumir Chadha will join the board of TIL, while MD Surendra Jain will be inducted as an observer.

"Times Internet is the undisputed leader in the internet and wireless value-added services space in India. We believe that it is very well positioned to continue its rapid growth as the Indian consumer internet and wireless industries scale," said Chadha.