Helion and TVS Shriram growth fund invest 7.5 million dillars in 9.9 media
13 Oct 2008, 1527 Hrs

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New Delhi October 13 (ANI/Business Wire India): Helion Ventures and TVS Shriram Growth Fund have invested 7.5 million dollars in 9.9 Mediaworx Pvt Ltd, a diversified media company focused on niche consumer, business and professional communities. Sanjeev Aggarwal, MD of Helion, and Gopal Srinivasan, CMD of TVS Capital, will join the 9.9 Media Board.

Announcing the investment, Pramath Raj Sinha, Founder snd MD of 9.9 Media, said, "We are fortunate to have such first-rate investors as Helion and TVS Shriram Growth Fund as partners in our journey to build a highly respected media company. In particular, we are excited that two seasoned entrepreneurs in Sanjeev and Gopal are joining our Board." The funds will be utilised to fund growth and the launch of new products and services.

"We are impressed with how much the 9.9 team has been able to achieve in a short period of time. At a time when media in India is expanding and growing rapidly, we see 9.9 Media as the ideal vehicle to extend our portfolio into the media space," said Sanjeev Aggarwal, MD of Helion Ventures.

Added Gopal Srinivasan, "the founding team at 9.9 led by Pramath, brings a great depth of professional experience and we are excited to partner with this team to build a nextgen media business."

9.9 Media was founded in September last year by a group of professionals led by Sinha, formerly a partner at McKinsey and Company and the MD and CEO of the ABP Group. 9.9 Media publishes several magazines and manages multiple online properties and events.

In December last year, 9.9 Media acquired Jasubhai Digital Media and all its brands. Earlier, a group of angel investors including Rajat Gupta, former Global Managing Director of McKinsey and Company, had invested in the company. (ANI)