True North picks up $50-60 mn stake in IPO-bound InMobi
Article excerpt
Mumbai, Sept. 25 -- True North has picked up a stake in initial public offering (IPO)-bound InMobi in a largely secondary transaction, three people familiar with the matter said. The investment is the first technology sector bet from the private equity firm's seventh fund. "The investment firm has acquired stakes worth $50-60 million from some early investors, who came in through InMobi's acquisitions, employee stock options and a few founder-owned entities," the first person said. "There was li
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The company last raised $350 million from Varde Partners, Elham Credit Partners and SeaTown Holdings in December 2025 and is currently engaging with bankers for a $500 million initial public offering in India.
