True North buys 2-3% stake in IPO-bound InMobi for $50-60 Mn

True North has acquired a minority stake of around 2-3% in IPO-bound adtech unicorn InMobi for about $50-60 Mn via secondary share purchases, giving early investors a partial exit. InMobi is preparing a $1 Bn public issue at a valuation of around $6 Bn.

• True North acquired 2-3% of InMobi for $50-60 Mn
• Deal gave early investors a partial exit ahead of IPO
• InMobi targets a $1 Bn IPO at around $6 Bn valuation
• InMobi has raised over $774 Mn from SoftBank and others