K2 Global to invest more in Paytm, Saavn
Start-up investment firm K2 Global, backed by Indian and Asian billionaires, is looking to increase its stake in online mobile applications Paytm and Saavn, which are among start-ups with strong growth market strategies in India.
"We are looking to invest more in Paytm and Saavn," said the Singapore-based investor Ozi Amanant, who leads K2 Global backed by Indian and Asian billionaires, institutional investors and family wealth management offices.
K2 Global, which has built up stakes in Paytm and Saavn over in about two years, is raising another round of 284 million Singapore dollars, following on to the recently closed 257 million Singapore dollars .
"We have a target to raise 1 billion Singapore dollars in the next two years for investments," Amanat said.
K2 Global has pledged 500 million Singapore dollars more for co-investments in technology startups in which it is already holding stakes.
The firm has bought stakes in 28 companies including Twilio, Uber, Magic Leap, Palantir and Spotify.
Amanat who monitors high yield start-ups across Asia and Silicon Valley in the US said K2 Global has grown its connectivity with several partners including Minal Hasan in Silicon Valley, Chris Eu in Singapore and others in Indonesia, Hong Kong, India and Japan. -PTI
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