Clearstone Venture Advisors, a global venture capital fund with over $650 million of committed capital for investment globally, is set to invest in a company in the mobile value-added services (VAS) space in India. The size of the investment will be less than $10 million. The company expects to close the deal in the next four to five months. "Since the mobile touches millions of people in India, it is a great horizontal delivery vehicle — whether for transaction processing, electronics payments or mobile advertising. We do believe that everyone with a mobile phone is part of a digital network. This means they are ripe for some kind of network model or services model over the phone. So we are looking at the entire VAS space for breakthrough opportunities," said Rahul Khanna, director, Clearstone Venture Advisors. Since starting operations in India in 2006, Clearstone has invested in four Indian companies with a committed capital of about $20 million. These are being funded from the company's third fund which is $210 million in size.   more »