Sequoia,Nexus Venture put $12 mn in India IT co

Private equity firms Sequoia Capital and Nexus Venture Partners together invested $12 million in unlisted technology firm Druva for a minority stake,the Indian firm said on Wednesday.

Druva,which provides advanced enterprise data-protection solutions for corporate networks,will use the funds for its expansion plans,in a statement.

Druva’s software provides data back-up for enterprise laptops including supports for smart phones and tablets,it said.

Private equity investments in India grew 21.6 percent to $3.3 billion in the first half of this year,according to data.

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