The investment will be through a combination of primary investment in the company and secondary investment to buy the entire shareholding of first Carlyle Ventures (the carlyle group), the company said in a release.

ShareKhan would use the proceeds to fund the company's strategic initiatives, it added.

Abhay Havaldar, Managing Director and Sunish Sharma, Vice President, based out of General Atlantic s Mumbai office would be joining ShareKhan's board of directors, it said.

The other two early investors, Intel Capital and a group of funds advised by HSBC Pvt Equity India fund continue to remain invested in the company with significant shareholding, it said.

"General Atlantic has been very active in this field globally and the firm brings a wealth of knowledge through its investments in E-trade, NYSE and Nymex to name a few. Their global network and extensive contacts will help ShareKhan to continue its growth in a very robust market," ShareKhan Chairman Shripal Morakhia said ShareKhan CEO Tarun Shah said, "GA brings a wealth of experience including a deep understanding of the Financial services and consumer sectors. They also have a unique capability to help companies leverage technology as a source of competitive advantage."

GA managing director Abhay Havaldar said, "we believe in the growth of the financial services sector in India and are eager to invest behind strong management teams and retail Financial services brands. ShareKhan's management has positioned it to take advantage of the growing consumer demand for financial services products in India through investments in research, pan-Indian branch network and an outstanding technology platform."

"ShareKhan's lineage and relationship with SSKI group provide it a unique position to understand and leverage the growth of the financial services sector. We look forward to providing strategic counsel to ShareKhan's management as they continue their expansion for the benefit of all shareholders," he added.