360

Apps, Fintech

360 One, an Indian company, purchases the mutual fund application ET Money for $44M.

360 One WAM, India’s largest wealth manager focused on ultra-high-net-worth individuals, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million. 360 One disclosed (PDF) the deal in a stock exchange filing Wednesday evening. ET Money boasts over 900,000 transacting clients and tracks assets under management of approximately $8.3 billion. The platform has been a popular choice for retail investors, with monthly mutual fund net flows of around $89.9 million. ET Money is the second startup from local media powerhouse Times Internet’s portfolio to be sold in recent weeks.

Kira Kim
June 12, 2024
2 Comments

Venture

y two years

Ballistic Ventures Partners And A Few Portfolio Founders 1

Two years ago, he launched Ballistic Ventures with an inaugural $300 million fund, a laser focus on cybersecurity, an interesting business model, and a who’s-who of investing partners. Now Ballistic has already closed a second fund, even bigger than the first. “We set out to raise a second $300 million fund and stopped at $360 million,” Schlein told TechCrunch. Ballistic formally registered its plans for a second fund just four months ago, in November, TC was first to report. The Ballistic team also includes general partner Kevin Mandia, the former CEO of Mandiant, which sold to Google in 2022.