True North Acquires InMobi Stake & Fujiyama Solar Plan
By Business Desk
True North buys a minority stake in InMobi for $50-60M ahead of its IPO, while Fujiyama Power Systems unveils a major 1.2 GW solar expansion.
Strategic Share Purchase Ahead of Listing
Indian private equity firm True North has secured a minority stake in InMobi, the global mobile advertising and marketing technology unicorn. This secondary share purchase involves existing investors offloading a portion of their holdings to True North.
Deal Breakdown and Cap Table Moves
- Acquirer: True North
- Target Company: InMobi
- Stake Acquired: 2-3% minority stake
- Transaction Value: $50-60 million
The investment comes at a strategic time as InMobi continues to strengthen its financial position and operational scale in anticipation of a planned public listing. By bringing in a seasoned domestic investor, InMobi aims to bolster its cap table and leverage True North’s expertise as it navigates the complexities of the public markets.
Renewable Energy and Manufacturing Growth
Simultaneously, in the renewable energy sector, Fujiyama Power Systems has unveiled plans to construct a 1.2 GW solar cell manufacturing plant. This massive infrastructure push highlights the scaling activity happening concurrently across major industry players in the market.