Ncubate takes Minority Stake in Nevis Networks
Ncubate Capital Partners (Ncubate) has closed its debut transaction by picking up a significant minority stake in Pune-based Nevis Networks (India) Pvt. Ltd. (Nevis), an emerging network security provider. The funds raised from Ncubate will be used to finance product development and operations expansion across the globe.
Radha Shelat, CEO, Nevis said, βThe funding will help Nevis build a next generation product and expand the presence in existing markets and opportunistically enter newer markets. Nevis has a well established presence in the network security market in India with its indigenous NAC product. I am very pleased with this partnership and looking forward to taking the business forward.β
Rakesh Malhotra, Founder & Managing Partner, Ncubate said, "We were very impressed by the Management team at Nevis. They have an opportunity to build a global company providing state-of-the-art security solutions. Ncubate is looking at companies with strong management teams at early stages of growth."
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