Bertelsmann India: A twist in the funding tale

What happens when one of the world's largest media company also becomes a PE fund?

What happens when one of the world’s largest media company also becomes a private equity fund? 

You get a strategic investor in the guise of a financial one. And an investment portfolio that seems eclectic at best. 

This roughly is the story of Bertelsmann India Investment or BII. Ever since the Indian arm of the Euro 17.1 billion German media giant Bertelsmann set up its India fund in 2013, its investments have puzzled analysts. It has invested in other funds (Helion, Kaizen and Nirvana), there is a furniture retailer (Pepperfry.com), a music service (Saavn) and a real estate site (Indiaproperty.com) among its