Accel Acquires Minority Trivone Stake–CORRECTED

US private equity fund venture capital fund Accel Partners has acquired a minority stake in unlisted Indian digital media and content company Trivone Digital, writes Reuters. Details were not disclosed.

(Reuters) – U.S. private equity fund Accel Partners said on Monday it had acquired a minority stake in unlisted Indian digital media and content company Trivone Digital. Details were not disclosed.

Trivone will use the funds to meet capital requirements and “to grow inorganically”, Accel Partners said in a statement.

The fund, known for its investment in Facebook and daily-deals company Groupon Inc, recently raised $155 million for early-stage investments in India.

Private equity investments in India rose 31 percent to $7.9 billion in the first three quarters of 2011 compared with a year earlier, according to research and consultancy firm KPMG.