New Delhi: BookAdda.com, an online book retailer, has raised an investment from former Infosys director TV Mohandas Pai and his partner Rajan Pai in collaboration with a group of early stage investors. The investment is a part of their $100 million private equity fund that was announced in August 2011, which focused on investing $3-10 million in two Indian and two U.S.-based companies with a total of $35 million. The duo has also invested $8 million in California-based medical technology company Insightra.

BookAdda.com is an online book portal that was acquired by Infokarma Services in December 2010. Infokarma is promoted by Hemant Kohli who was earlier the CEO of IT&T, a company he had co-founded.

TV Mohandas Pai and Rajani Pai launched the PE fund in August 2011 and focuses on mid-to-late-stage investments in technology, life sciences and internet sectors.

TV Mohandas Pai is a chartered accountant and was a member of the Board of Directors of Infosys. He has also been a Member of the Kelkar Committee, constituted by the Ministry of Finance, Government of India. He is currently a Member of the Board of Securities and Exchange Board of India. In 2000, he co-founded the Akshaya Patra Foundation in Bangalore that is a midday meal program for school children. Mohandas holds a bachelor’s degree in commerce from St. Joseph’s College of Commerce, Bangalore and a bachelor’s degree in law (LLB) from Bangalore University.