Madison India, a mid-market private equity firm has reportedly picked up a minority stake in Gurgaon and US based iYogi, a global on-demand software and services company that provides software and comprehensive tech support for consumers and small businesses in the United States, United Kingdom, Canada, Australia, the GCC states and India.
The deal was a mix of primary and secondary investments, the exact quantum of the investment however has been kept undisclosed at this moment.
Other than this, iYogi has raised a total of over USD 57 million till date from a number of investors, including Sequoia Capital, Canaan Partners, SVB Capital and SAP Ventures, among others.
Madison India Capital is a private investment firm specializing in Indian media, communications and business services related to those industries.
It typically invests USD 5 million to USD 20 million. Focused on middle market growth companies, the fund had earlier invested in Micromax Informatics Ltd (2010) and Net 4 India Ltd (2009).
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