IFC may invest upto $5Mn in Infuse Capital - an incubation and early stage fund aimed at seeding and supporting scalable ventures in India through equity investment up to US $1.5Mn per venture.
Infuse is housed at Indian Institute of Management Ahmedabad's business incubator – the Centre for Innovation Incubation and Entrepreneurship ("CIIE") - and currently backed by BP Ventures (BP's corporate venturing arm) and Government of India's Ministry of New and Renewable Energy (MNRE) & Technology Development Board (TDB).
Infuse aims to raise a US$25 Mn fund that will invest in technology and business model innovation based entrepreneurial solutions across the cleantech vertical. INFUSE will bridge the early-stage equity gap in this sector and simultaneously build an enabling ecosystem for eco-ventures in India.
In one of biggest deals in the IT sector, French IT services company Capgemini is acquiring its Nasdaq based peer Igate Corporation in an all cash deal worth $4.04 Bn. The share are being acquired at $48 a piece.