MUMBAI: Rupert Murdoch's News Corp has signed a definitive agreement to acquire the VCCircle Network, which includes VCCircle.com, Techcircle.in, VCCEdge, VCCircle Training, in addition to a premium-content driven conference business.
VCCircle.com is a company focusing on private equity, venture capital, and M&A related information and analysis of the Indian investment ecosystem. It tracks M&A, venture capital, private equity, investment banking, and emerging companies and sectors, and was the first such website in India to launch a premium subscription-led offering.
Terms of the acquisition, which is expected to close in March, were not disclosed.
“This significant investment is a sign of our faith in India’s future and our enthusiasm for working with and building up emerging talents in the country. India is an increasingly meaningful part of our portfolio, which is itself increasingly digital and global,” said News Corp CEO Robert Thomson.
“For the past decade, we have built a strong franchise with proprietary data, information, content, and networking capabilities around India’s digital business world. Being a part of News Corp will now allow us to accelerate our already aggressive growth plans,” said VCCircle Network founder and CEO P.V. Sahad.
VCCircle Network is owned by Mosaic Media Ventures Pvt Ltd and has about 100 employees across India, with its headquarters in Noida. Sahad, and the management group, will become part of News Corp’s India team. Sahad will report to News Corp senior vice president, strategy Raju Narisetti.
The VCCircle acquisition builds on News Corp’s recent digital investments in India. In November, News Corp acquired a 25 per cent stake in PropTiger.com, Indian online residential real estate platform. In December, News Corp acquired BigDecisions.com, which aims to help Indian consumers make smarter financial decisions through interactive, decision-making tools powered by sophisticated algorithms and data. News Corp also has a presence across India through its Dow Jones, Wall Street Journal and HarperCollins Publishers businesses.
