Google invests in early stage Indian Venture Capital funds

Bangalore, Feb 14 (UNI) Google Inc today announced infusion of investment in two early stage venture capital funds in India - Seedfund and Erasmic - exhibiting its continued commitment to India.

India was the first place where Google had made a limited partner investment in early stage funds, it said in a release here.

''While the rush of large amounts of venture capital into India is well-documented, very little of this trickles down to the really small firms, the early-stage startups,'' Google head for corporate development in South Asia Samir Sood said.

Google aimed at closing this gap by investing in early stage funds such as Erasmic and Seedfund, which identify, nurture and finance innovative startups and help them grow. These early infusions of capital provide an impetus for entrepreneurship in product engineering and would hopefully result in innovations that benefit consumer, internet and mobile services, he said.

Financial terms of the deals were not disclosed.

UNI