True North picks up minority stake in InMobi ahead of IPO

True North is investing around $50–60 million through secondary share purchases, according to media reports

by e4m Staff
Published: Sep 26, 2026 7:56 PM | 1 min read

Private equity firm True North has acquired a minority stake in adtech company InMobi, investing approximately $50–60 million through secondary share purchases.
The transaction involved purchasing shares from early investors, employee stock options, and certain founder-owned entities, resulting in a 2–3% stake in InMobi.
This investment marks True North's first technology investment from its seventh fund and is notable due to the firm's typical preference for larger minority positions.
InMobi is preparing for an initial public offering, making this secondary transaction significant as it approaches the public markets.

Private equity firm True North has reportedly picked up a minority stake in adtech company InMobi, investing around $50–60 million through secondary share purchases, according to media reports.

According to a report, the transaction involved the purchase of shares primarily from early investors looking to partially exit the company. The deal also included shares linked to employee stock options and certain founder-owned entities, the report said, citing people familiar with the matter.

True North is understood to have acquired a 2–3% stake in InMobi. The relatively small holding is notable as the private equity firm typically invests through larger minority positions.

The transaction is also reportedly the first technology investment from True North’s seventh fund. The exact valuation of the deal was not available, with the investment spread across multiple entities, according to the report.

InMobi is preparing for an initial public offering, making the secondary transaction notable as the adtech company moves closer to the public markets.