Easter weekend was a busy one in San Francisco, thanks to a major fund created by Silver Lake.
US firm Silver Lake is pressing ahead with further tech deals, following the creation of a $15bn fund in recent days.
Already enjoying stakes in deals such as Dell’s purchase of EMC, and sporting returns of 31pc on its current $10.5bn fund, The New York Times reported that the new fund will be targeting tech by and large.
Acquire and grow
This fund will continue down Silver Lake’s well-trodden path of investing in small companies and backing them to acquire and grow.
“What is now Broadcom, a nearly $87bn chipmaker, began with Silver Lake investing in the much smaller Avago and then helping it swallow ever-larger rivals,” said the report, as an example.
Staying in the US, last weekend Reltio raised $40m in a Series C round of funding.
New Enterprise Associates (NEA) and Sapphire Ventures led the round for the company that provides data, insights and recommendations through its cloud-based, platform-as-a-service data management model.
It brings Reltio’s total funding to more than $70m so far, with the latest round enabling the growth of engineering, sales and marketing programmes. According to VentureBeat, plans are already in place to up its headcount by 50pc this year.
“Reltio has demonstrated impressive growth in the massive data management market,” said NEA general partner Chetan Puttagunta. “When the opportunity to deepen our commitment to the company arose, it was an easy decision.”
Passage to India
In India, Credihealth recently raised $1.5m in pre-Series A funding.
Credihealth is a start-up looking at patient care, providing guidance to a patient from the first consultation through the entire hospitalisation process.
“More than money, it is innovation and steady growth that are needed to survive in the market today. The funding will primarily be utilised to augment technology and infrastructure to expand services and introduce new products,” said Ravi Virmani, founder of Credihealth.
Staying in India, Delhi-based Innefu Labs has raised $2m, also in Series A funding, with VC firm IndiaNivesh behind the deal.
Innefu is an AI company, looking at areas such as biometric authentication and predictive intelligence.
“Our products have been developed using cutting-edge technologies to provide customised solutions,” said Abhishek Sharma, co-founder of the company, when revealing the deal.
“We have the right blend of domain expertise with tech knowhow to compete with the best in the world.”
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