Gib Comes To India

US-based Global Internet Ventures (GIV) announced the formation of its India operations, focused on developing, operating and investing in Internet and technology companies. It plans to incubate young dynamic companies by providing financial, infrastructural and operating support and by investing in newly formed companies. The incubator model has been set up in association with the IIM, Bangalore. GIV has raised funds to the tune of $150 million for seed financing.

GIV will evaluate propositions on the basis of large, rapidly growing markets, experienced management teams with relevant industry experience, ability to create a sustainable competitive advantage yielding significant barriers to entry and high gross margins and logical exit path for investors through prospects for an IPO, said Jeff Tonkel, managing director, GIV.