Thursday, March 22, 2007

Cargill Ventures invest $9 mn in IT firm KPIT Cummins

Cargill Ventures, the venture capital arm of Cargill, Inc., will invest a total of $9 mn in Indian IT consulting firm KPIT Cummins Infosystems. KPIT Cummins will issue shares of $4.5 mn on a preferential basis, in addition to warrants convertible into shares of up to $4.5 mn. The warrants will be convertible into shares at the end of 18 months from the date of issue-based on certain parameters.

Cargill is a privately held company with operations in 63 countries and revenues of over $75 bn. Cargill Ventures is a diversified growth-capital investor across the IT, life sciences and IT sectors.

Read more in the Business Standard article.

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