Enterprise AI
Private equity firm True North has acquired a minority stake of around 2–3% in IPO-bound adtech company InMobi for approximately $50–60 million. The transaction was largely executed through secondary share purchases, enabling some early investors to secure a partial exit, alongside a small primary funding component.
Founded in 2007, InMobi provides marketing and monetisation solutions to brands, advertisers and publishers. Its portfolio also includes social commerce platform Roposo and Glance, an AI-based Android lockscreen platform. The company has raised around $774 million to date and is preparing for a potential India IPO, with reports indicating a targeted valuation of $6–10 billion.
The Bigger Picture
The investment comes as InMobi prepares to redomicile from Singapore to India and strengthens its AI-led advertising and monetisation capabilities ahead of a potential public listing.
True North’s investment highlights continued private-equity interest in technology companies combining digital advertising, AI and scalable monetisation platforms, while InMobi’s planned IPO could further expand the visibility of India-origin technology businesses in public markets.
