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Google has recently acquired 30% stake in the seed-stage fund Ventureast TeNet Fund II. The fund is run by the Tenet group of IIT-Madras and Ventureast Fund Advisors. Tenet is “The Telecommunication and Computer Networking Group”, and is focussed on incubating R&D companies. There have been successful companies launched from Tenet like Midas Communication, Banyan [...]

Well this one seems to be great news for startups in India! 
Google is looking to fund startups in India but is not doing so directly! Instead they are contributing an undisclosed amount to Seedfund, a $10-million to $15-million fund that had its first closing in November 2006, according to red herring.
In October 2006, it bought the [...]