Google Takes An LP Approach In India; Invests In Erasmic And Seedfund

Google is taking an LP approach in India as to investing. The Mountain View-based search giant has invested in two early stage or seed stage funds - Bangalore-based Erasmic Venture Fund and Mumbai-based Seedfund. The amount of investment in both firms is undisclosed.

"While the rush of large amounts of venture capital into India is well-documented, very little of this trickles down to small firms - the early-stage startups. Our effort is to build this gap by investing in these funds,"

said Samir Sood, head (corporate development - South Asia), Google.

Apparently, India is the first country where Google has made a limited partner investment in early stage funds. These funds would essentially look at product innovations in consumer, Internet and mobile services.