True North picks up $50-60 mn stake in IPO-bound InMobi
True North acquired a $50-60 million stake in IPO-bound InMobi, marking its first technology investment from its seventh fund. The deal, primarily a secondary transaction, gives True North a 2-3% stake, diverging from its usual strategy of significant minority stakes. InMobi is preparing for a $500 million IPO in India, focusing on AI-driven advertising products.