Bertelsmann raises $500 million to back startups – Times of India

NEW DELHI: Bertelsmann India Investments (BII) has raised $500 million as part of its early stage programme to back tech startups. BII plans to partner with existing top VCs and entrepreneurs to make selective Series A investments – both as lead or follow-on investments and make three-four such deals annually.
Earlier, BII, which has invested in startups such as Pepperfry, Lendingkart and Shiprocket, did two-three deals in a year but now it will move to six-eight deals annually including series-A and mid-stage investments. For the core mid-stage investing programme, BII will continue to lead the rounds with a ticket size of $5 to $20 million as an initial investment. The investment may go up to as much as $40 million during the life of the selected startup.