Reliance Anil Dhirubhai Ambani Group's corporate venturing unit hits third deal in three months by backing Gradatim IT Ventures.
Reliance Venture Asset Management, the corporate venturing division of India-based conglomerate Reliance Anil Dhirubhai Ambani Group, has invested in Gradatim IT Ventures, a service company for microfinance businesses.
Local newspaper Economic Times of India said Reliance had paid $7m to $9m for a minority stake in Gradatim, which was its third deal in three months after similar-sized investments in Tessolve Services and Reverse Logistics.
Since its formation in early 2006, Reliance Venture has invested in 13 deals, including India’s largest…
