| Singapore's Temasek Holdings has led an investment round of Rs 370 crore in data mining company Manthan Systems, buying out the stake of IDG Ventures, one of the early venture funds to back the Bengaluru company. Norwest Venture Partners, an existing investor also participated in this round.
"I just liked the personal chemistry with Temasek, I have been around and I have learnt that no arithmetic will work out if chemistry is not right," said Atul Jalan, founder and chief executive of Manthan. The 44-year old, who has built and sold three earlier ventures, said his company had attracted bids from three investors. "(One of them) bet a box of cigars saying it (bidding) does not happen in India, but in companies like Google and Facebook," said Jalan who after winning the wager distributed cigars to his team in the US...............................................Full Article: Source
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