India, May 20 -- The Competition Commission of India (CCI) has approved Blackstone-led acquisition of a controlling stake in AI cloud startup Neysa Networks.

According to a release issued by the regulator today, Blackstocne will make the investment through its affiliates BCP Asia II Topco V and Asia II Topco XIV.

Apart from Blackstone, several other investors will also acquire stakes in Neysa as part of the transaction. These investors include 360 ONE Asset, TVS Capital, Nexus Ventures, Anchorage Capital Scheme III, Neysa founder and CEO Sharad Sanghi, and Ontario Teachers' Pension Fund.

The approval comes months after Neysa announced that it had entered a definitive agreement to raise $600 Mn in equity funding in a round led by Blacks...