VENTURE CAPITAL POST

Threatened by the news of the Mozilla Foundation developing a $25 Firefox OS smartphone, Finnish phone maker Nokia also launched its own set of new Android smartphones for emerging markets during the Mobile World Congress held in Barcelona.

Singapore-based business consortium DDB Group Asia Pacific acquired Bangalore, India-based digital marketing firm 22feet for an undisclosed amount in a bid to be the leader in the development of India's digital marketing solutions industry.

Bangalore, India-based outsourced engineering solutions provider Quest Global Engineering added Houston, US-based engineering firm Beeken TechQuest for an undisclosed sum to meet the engineering workforce demand in the oil & gas industry.

San Francisco, US-based venture capital fund network IDG Ventures is currently raising $100 million for its third fund, the IDG Ventures III, to invest in early-stage startups in the US.

Health and lifestyle investors Tripp Baird and Vishal Vasishth are in the process of raising $150 million for their Builders Fund in San Francisco, based on a document filed with the Securities and Exchange Commission (SEC).

Menlo Park, US-based venture capital firm Mayfield Fund closed $108 million for its second fund which will focus on tech, consumer, and infrastructure startups in India.

Sydney, New South Wales-based mining and exploration company Kimberley Diamonds Ltd picked up the Argyle Smoke Creek diamond project from Mumbai, India-based firm Venus Metals Corp for A$1 million in combined cash and issued shares.

Kolkata, India-based business group Gillanders Arbuthnot & Co Ltd entered an agreement to buy out Malawi-based tea and macadamia producer Group Development Ltd for an undisclosed amount, according to a stock market disclosure.

JPSML A/c Copthall Mauritius Investment acquired a 0.6% stake in Mumbai, India-based clothing retail chain Future Retail for INR13.5 crore at INR91.88 apiece on the National Stock Exchange.

Jacksonville, US-based domestic trucking and international shipping firm Momentum Transportation USA Inc acquired JIX International Freight Services for an undisclosed amount to expand its worldwide operations.

Governor Raghuram Rajan of the Reserve Bank of India has reiterated concerns about the stability and credibility of virtual currencies like the Bitcoin, TechCrunch reported.

Of the 16 startups chosen by Microsoft Ventures for its Summer 2014 batch, six will be part of the Accelerator Plus program that targets more mature firms, TechCrunch reported.

Minnesota, US-based food processing firm Cargill purchased the Leonardo olive oil brand from New Delhi, India-based premium wellness food provider Dalmia Continental for an estimated price of INR100 crore.

Paris, France-based hospitality major Accor is aiming to exit its 40% stake in Mumbai, India-based Sofitel hotel in Bandra-Kurla Complex (BKC) and fold the Sofitel brand into itself, according to sources.

India-based travel booking website MakeMyTrip bought Amsterdam, Netherlands-based hotel booking portal EasyToBook in a deal valued at around $5 million to increase its revenue through online hotel bookings.