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3i invests in Indian company Nimbus23/01/2007. Source: AltAssets. 
 3i, Cisco and Oman Investment Fund have invested approximately $125m in Mumbai, India-headquartered media, entertainment and sports business Nimbus Communications. The investment is in the form of compulsorily convertible bonds that will convert into equity based on a pre-set formula, prior to an IPO or trade sale.
This marks 3i's second round of investment in Nimbus, the entry of OIF into the Indian market and Cisco's continued strategy to invest across the Indian content industry.
Anil Ahuja, managing director and co-head Asia, 3i, said, '3i invested US $45m in Nimbus 18 months back and the company's exemplary execution of its growth plans has enthused us to further participate in this round which is intended to fuel its goal of becoming a billion-dollar company by 2010.'
Vijai Gill, CIO, OIF, added, 'OIF is a relatively new investment vehicle which seeks to position itself as one of the region's leading private equity investors and it expects to achieve the same by investing in companies that are in high growth sectors, have a clear vision of their future and sound management. We found that Nimbus fit the bill perfectly on all counts and is especially well positioned to continue growing off the Indian consumer's rapidly rising disposable income and passion for cricket.'
The January 2007 round of private equity investment in Nimbus is the company's third round of financing. Nimbus has attracted approximately $200m of private equity investment to date.
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