Viadeo raises USD 32 mn funds from investment firms

NEW DELHI: Social networking company Viadeo today said it has raised $ 32 million in its latest round of funding, a part of which would also be invested in its Indian brand, ApnaCircle.

"The new investment will allow Viadeo to accelerate growth in Europe and China (with its local brand Tianji), as well as other key emerging markets such as Latin America, Russia, India(with its local brand ApnaCircle), and Africa," Viadeo said in a statement.

The funds have been raised from the French Sovereign Wealth Fund, the Fonds Strategique d'Investissement, existing institutional shareholders, Idinvest and Ventech, a pool of new investors including Allianz, Jefferies and Middle Eastern private funds, it added.

Viadeo Group is based in Europe and claims to have over 45 million members. The company says that it focusses on non-English speaking markets to build its businesses.

ApnaCircle is a local professional network in India.