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Google has marked its continued commitment to the Indian technology market, joining an angel network and investing a undisclosed amount in a seed-stage fund.
In February, the company announced its investment in two early-stage venture capital funds, Seedfund and Erasmic. With its engineering talent, economic growth and large, local market for technology, India is the first country where Google has made a limited partner investment in early stage funds, according to a company press release.
Now the company has joined the Indian Angel Network, which may be the first group of its kind in the country. Google also announced an investment in Ventureeast Tenet Fund II, a seed-stage fund run by The Telecommunication and Computer Networking Group of the Indian Institute of Technology (Chennai), reported Business Standard.
According to the angel network's website, the group has invested in the IT, hospitality, mobile, education, and Internet sectors.
Read Google's press release here.