Private Equity PE-VC Fund Investments
True North acquires stake worth $60-M in IPO-bound InMobi: report
Mumbai-based PE firm True North, via its seventh fund, has acquired a stake in Bengaluru-based adtech firm InMobi in a transaction valued between USD 50-60 million. The investment, which represents a 2-3% stake in the company, was executed via a secondary share sale by early investors, employee stock options, and founder-owned entities.Founded in 2007 by Naveen Tewari, Mohit Saxena, Abhay Singhal, Amit Gupta, and Piyush Shah, InMobi provides digital advertising products and software tools to brands, agencies, and publishers.
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Between Apr 2008 and Dec 2025, InMobi had attracted about $ 772 M from Kleiner Perkins, Sherpalo Ventures, SoftBank Corp, Tennenbaum Capital, Mars Growth Capital, Varde Partners and others.For FY25, InMobi had reported about INR 471 Cr in Operating Income and about INR 7 Cr in Net Loss.