In a bid to fuel its future expansion plans, according to two sources privy to the development, Lycos Internet is reportedly looking to raise $100 million from private equity firms.
The company is planning to develop India-based products to crack the growing digital marketing space in the domestic market. Lycos is already receiving inbound calls from private equity firms and it is expected to complete the fund-raising exercise within the next one year.
Lycos Internet has so far received close to $100 million from New York-based hedge fund Sansar Capital Management LLC, GE Asia-Pacific Capital, and Oak Investment Partners. While the three investors together hold 27% and 40% by the promoter group, 33% is the public holding in the company.
