Friday, August 18, 2006
Clearstone Opens Mumbai, India Office
Santa Monica-based Clearstone Venture Partners said this week that it has opened up an office in Mumbai, India. The new office wil be headed by Rahul Khanna, who the firm said will identify and support portfolio companies. Clearstone is focusing its Indian investments in high-growth domestic consumption sectors, including telecom, media, entertainment, and financial serviecs. Investments will come out of its existing funds. The firm also said that already has invested $5M in Iindiaideas.com, a provider of payment services which operates as Billdesk. Clearstone said that it will make early stage investments between $2M to $5M (US).