Seems like the VC funding action in our industry just keeps gathering steam…the latest news is that Actis, a private equity firm out of London has acquired a 49% stake in LMKR. Officially the sum is “undisclosed” at the moment but if I get any indications on the number I shall be sure to share. Actis has an active South Asia emerging markets fund that it used for this purpose. This is important news for 2 reasons:

1 . Local IT firm funding chances/valuations will be benchmarked by deals like these.

2. If there are still any pessimists out there saying we are not a growing industry and that “IT is dead” in Pakistan, well, here is some more facts to support the contrary. (I have tons on this blog btw)

My personal educated guess is that the shares sold for between 5 and 10 million USD. But thats just me, it could be higher/lower.

For more about LMKR and its business, click the this link

For more on Actis and its South Asia Investment Fund strategy, go here

For the press release, click here

After quite awhile, our companies are now getting noticed, getting funded and being talked about in the right circles…Hopefully we will see and hear more good news  similar to this one!

A Big Thanks to Saqib for bringing this to my attention!

Popularity: 3% [?]

Liked the post? Stumble it!