Waygate Capital says it’s looking to fund a mobile content/applications company. In an interview to Rediff last month (we stumbled upon it now), Rajesh Jog, the managing director of the fund, said: “The mobile space is very interesting and there is scope for huge growth as mobile penetration is happening faster than Internet growth in India. Mobile entertainment will boom.
I’m looking for a mobile content company to fund. Billing through mobile phones will be a great opportunity. Companies like Mchq and Paymate are good examples.”
Waygate is already involved with two start-ups in India – Digital Music India and animation company Kahani World. Rajesh Jog had earlier co-founded eVentures with investment from Softbank and Newscorp, which shut shop after the dotcom meltdown.
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