True North Buys Minority Stake in InMobi

Private equity firm True North acquired a 2-3% stake in IPO-bound adtech unicorn InMobi for around $50-60 Mn through secondary share purchases, giving early investors a partial exit. InMobi, backed by SoftBank, is redomiciling to India and preparing a $1 Bn public issue with merchant bankers JPMorgan, Jefferies, Kotak Mahindra Capital and Axis Capital.