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Hissa launches $35M fund to unlock liquidity in ESOP market
YourStory
·
6m ago
Medial
Hissa has launched Hissa Fund I, a $35 million SEBI-registered Category II Alternative Investment Fund, to provide liquidity for Indian ESOP markets. The fund targets Series B startups, investing Rs 8-10 crore per company, aiming for 15-20 investments. It allows employees to access liquidity pre-exit and is backed by founders, HNIs, and family offices. The fund hopes to deploy the entire corpus by FY26's first quarter.
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VC-backed RuleZero’s Hissa floats fund to buy ESOPs from startup execs
VCCircle
·
6m ago
Medial
Hissa, an equity management platform by RuleZero Technology Solutions, has launched a $35 million fund to buy ESOPs from startup employees, addressing the issue of holding illiquid stocks in Indian startups. Targeting secondaries transactions, the Hissa Fund I aims to invest in 15-20 growth-stage startups, having already invested in AI-led robotics company Miko. Managed by RuleZero's team, the fund offers employees liquidity for personal investments. RuleZero, backed by various investors, was incubated at IndusLaw.
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Mozilla launches $35M venture capital fund for early-stage ‘responsible’ startups
TechCrunch
·
1y ago
Medial
Mozilla is entering the venture capital space with a new $35 million fund, called Mozilla Ventures. The fund will focus on early-stage startups, specifically those Mozilla calls 'responsible' tech companies that aim to improve the internet and the tech industry. Mozilla Ventures has already made three investments, including Heylogin, Block Party, and Secure AI Labs. The fund will prioritize privacy, trustworthy AI, and products that decentralize digital power. Mozilla, known for its Firefox web browser, generates around $500 million annually, primarily through a search engine partnership with Google.
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Flipkart announces new ESOP liquidity worth $50 Mn
Entrackr
·
28d ago
Medial
Flipkart announces new ESOP liquidity worth $50 Mn This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Flipkart has announced a fresh ESOP (Employee Stock Option Plan) liquidity opportunity for its employees, according to an internal note from the company’s chief executive officer Kalyan Krishnamurthy. As per the note, eligible employees will be allowed to liquidate up to 5% of their vested ESOPs as of July 5, 2025, at a buyback price of $174.32 per option. Payouts will be made in August 2025 under the Flipkart Stock Option Plan 2012. An ET report estimates the size of the ESOP buyback at $50 million, with 7,000 to 7,500 employees expected to benefit from the liquidity program. Flipkart is currently valued at around $36 billion. Krishnamurthy also added that if key performance goals are met by the end of 2025, another 5% liquidity window could open in early 2026. A Flipkart spokesperson confirmed the development to Entrackr. This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. The company’s board has already approved the process to shift its holding structure from Singapore to India. In 2025, a clutch of startups including Darwinbox, Rapido, Univest, Deserve, and Even Healthcare have implemented ESOP buyback, liquidity, and payout programs worth around $67 million. In 2024, more than 20 startups implemented $200 million. According to startup data intelligence platform TheKredible, the ESOP buyback or liquidity amount stood at $802 million in 2023, $440 million in 2021, and $200 million in 2022.
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Startup Employees Made INR 1.2K Cr Via ESOP Buybacks In 2024
Inc42
·
9m ago
Medial
16 Indian tech companies have conducted ESOP (Employee Stock Ownership Plan) buybacks in 2024, resulting in over $148 million of wealth for their employees. In 2023, 12 startups carried out ESOP buybacks worth $850 million, with Flipkart leading the way with $700 million. Swiggy stood out in 2024 by offering $65 million in ESOP liquidity to reward its employees.
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TPG Growth makes another neat India exit move in busy start to new year
VCCircle
·
5m ago
Medial
TPG Growth, a private equity firm, has begun the new year by making another strategic exit from its Indian portfolio. Known as one of the most active alternative investment firms in India, TPG had successfully completed several exits in the previous year. This recent move indicates the firm's ongoing strategy to unlock liquidity from its investments, signaling a focused approach to managing and optimizing its portfolio assets in the Indian market.
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Indian startup employees cash out $1.7 Bn through ESOPs since 2020
Entrackr
·
10m ago
Medial
The Indian startup ecosystem has witnessed an exponential rise in employee stock ownership plan (ESOP) buybacks since 2020. According to data compiled by TheKredible, over 100 startups have implemented ESOP buyback, liquidity, and payout programs worth around $1.7 billion in the past five years, starting from January 2020. This trend reflects startups’ commitment to rewarding talent, providing employees with financial benefits, and boosting workplace morale. As reported in our previous edition, 80% of the total buybacks were conducted by 20% of the startups. Year-on-year data highlights the evolution of ESOP buybacks. In 2020, only 11 startups participated, totaling a modest $50 million. However, the trend accelerated rapidly, with 40 startups completing buybacks worth $440 million in 2021. This was followed by 26 startups with $200 million in buybacks in 2022. The upward trend continued in 2023, with 14 startups generating an impressive $802 million through buybacks or liquidity events. As of October 8, 2024, as many as 17 startups have contributed $188 million to this growing total. Among the leading players in ESOP buybacks, Flipkart, Razorpay, Swiggy, Whatfix, and BrowserStack stand out as the top five. Sectors most actively participating include e-commerce, fintech, SaaS, edtech, and logistics. Notably, 28 unicorns have joined this trend, reflecting a commitment to their employees’ financial well-being even among highly successful startups. [2024 vs 2023] The IPO-bound foodtech firm Swiggy led the 2024 ESOP liquidity chart with $65 million. It was closely followed by SaaS company Whatfix, which recently announced $58 million in ESOP liquidity for employees and investors. Urban Company and Meesho ranked next, with $24.4 million and $24 million, marking their largest ESOP buybacks to date. Titan Capital co-founders Kunal Bahl and Rohit Bansal saw strong returns on their investment in Urban Company. Other notable buybacks include Pocket FM, Purplle, and Dehaat, while nearly 50% of startups did not disclose buyback amounts. Check the complete data at TheKredible. In 2023, Flipkart accounted for $700 million in ESOP liquidity as compensation for value lost in the PhonePe spin-off, while the remaining startups totaled $102 million in buybacks. [2022 vs 2021] In 2022, fintech unicorn Razorpay led as the largest wealth creator with a $75 million ESOP liquidation program. Similarly, Swiggy, after reaching decacorn status, announced a $23 million ESOP program. The year 2021 marked a high for buyback events, with companies like Flipkart, Swiggy, PhonePe, Udaan, and others announcing ESOP liquidity totaling over $440 million. However, recent budget proposals may impact ESOPs, as the Union Budget suggests treating share buybacks as dividend income starting October 1, potentially affecting employee retention strategies. [Conclusion] One thing that is quite clear is that ESOPs are a well accepted and integral part of startup compensation and reward plans today. Employees are no longer averse to or unfamiliar with the concept, and enough examples and data is available out there for them to make an informed decision on the fairness, and relevance of their firms ESOP plans, if any. Boosting it further is the recent string of IPOs, besides upcoming ones that will provide the kind of liquidity events few imagined even in 2022. If anything, we believe firms will be scrutinised more closely by markets and the media on the size and application of their ESOP plans going forward. ESOPs can look very disproportionate in retrospect at times, and firms will have to think through generous grants and the rules governing them for senior and board level grants especially.
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360 One launches secondaries fund with a ₹4,000-crore target corpus
Livemint
·
1y ago
Medial
Asset manager 360 One WAM Ltd is in discussions to raise a ₹4,000-crore secondaries fund, which will be used to buy stakes in companies from other investors or replace existing investors in multiple firms. Additionally, the asset manager is in talks to raise a private equity fund focused on healthcare. They also plan to launch an early-stage venture capital fund and a fourth pre-IPO fund in the next year. The secondaries fund, the largest of its kind for 360 One Asset, aims to provide liquidity solutions as several Indian investors approach the end of their fund tenure.
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Swiggy's Majety, Reddy to sell shares in ESOP liquidity plan: Report
Money Control
·
1y ago
Medial
Swiggy Co-founders Sriharsha Majety and Nandan Reddy will be selling some shares in the startup's upcoming ESOP liquidity program worth about ₹540 crore, Moneycontrol reported. While Swiggy usually opts for buybacks, shares sold in the upcoming program are available to all willing buyers. Swiggy has reportedly previously enabled ₹1,000 crore of ESOPs liquidity over the past five events.
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Ather Energy’s IPO to unlock Rs 530 crore for employees through Esops
Economic Times
·
3m ago
Medial
Ather Energy's IPO, launching on April 28, is set to unlock Rs 530 crore for over 1,300 employees through the company's ESOP. The Bengaluru-based electric two-wheeler maker's IPO values Esop shares at Rs 321 each, benefiting employees post a one-year lock-in. The IPO also promises gains for early investors and promoters. The company's FY24 operating revenue rose 28% to Rs 1,578.9 crore. Lead managers include Axis Capital and Nomura.
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Swiggy announces fifth Esop plan worth $65 million
Economic Times
·
1y ago
Medial
Food delivery giant Swiggy has announced its fifth employee stock ownership plan (Esop) buyback, with a value of $65 million. This move is aimed at acknowledging employees' contributions and rewarding them for their dedication. Swiggy has already facilitated over Rs 1,000 crore in Esop liquidity across five events, benefiting more than 3,200 employees. The company believes that employee ownership creates incentives and fosters collaboration, leading to shared success and growth.
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