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Financial information provider Thomson Reuters today said venture capital fund IvyCap Ventures has invested in its group firm Reuters Market Light, which provides crop advisory services to Indian farmers.
Thomson Reuters and IvyCap Ventures Advisors (IvyCap) announced that the two firms have come together to support the continued development of Reuters Market Light (RML), Thomson Reuters said in a statement.
“The agreement sees IvyCap become the lead investor in RML (Reuters Market Light) with Thomson Reuters remaining as a shareholder and partner in the newly formed RML Information Services Pvt Ltd,” it added.
The company did not disclose the terms and conditions of the transaction.
Amit Mehra, founder and managing director of RML, will continue to be the CEO of RML Information Services and provide management continuity for the business.
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