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News on Medial
JSW Fund I exits Purplle with 2.7X return
Entrackr
·
1y ago
Medial
JSW Ventures has sold its shareholding in online beauty marketplace Purplle to Manipal Education & Medical Group Family Office (MEMG), earning a 2.7-fold return on its investment. This marks a secondary transaction for Purplle this year, following JSW Ventures' previous sale to Abu Dhabi Investment Authority (ADIA). JSW Ventures had initially invested in Purplle's Series A round in 2016. Purplle recently raised $33 million in a Series E funding round, achieving a unicorn valuation of $1.1 billion.
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JSW Ventures targets Rs 450 crore for third fund amid rise in domestic venture capital - The Economic Times
Economic Times
·
1m ago
Medial
JSW Ventures, the VC arm of JSW Group, is planning to raise Rs 400-450 crore for its third fund, focusing on early-stage tech startups across various sectors. The second fund, launched in 2020 with Rs 300 crore, is fully deployed, backing companies like Purplle and Cureskin. JSW’s first fund, initiated in 2016, returned nearly threefold. The growing domestic venture capital market in India supports these fundraising efforts, with substantial participation from family offices and institutions.
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Ranjan Pai-led Manipal Group invests in online beauty products retailer Purplle
Economic Times
·
1y ago
Medial
Manipal Group, led by Ranjan Pai, has invested in Mumbai-based online beauty products retailer Purplle in a secondary transaction. The investment involved the purchase of shares from JSW Ventures. This comes after JSW Ventures partially sold its stake in Purplle to the Abu Dhabi Investment Authority in May. The startup recently closed a funding round of $40-50 million, valuing the company at $1.1 billion.
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Peak XV nets Rs 1,200 Cr gain from Porter exit, marks 11X return
YourStory
·
2m ago
Medial
Peak XV Partners gained over Rs 1,200 crore by fully exiting logistics startup Porter, marking an 11-fold return on its Rs 116 crore investment. This exit is part of Peak XV's strategy of cash exits, generating about $3.6 billion over five years. Porter's valuation, now over $1.2 billion, underscores the challenges of mega-fund math in India, pushing large funds to seek multiple unicorn-scale exits for meaningful returns. Peak XV plans to raise a $1.4 billion fund.
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Neo Asset Marks Final Close Of Maiden Credit Fund At INR 2,575 Cr
Inc42
·
1y ago
Medial
The Neo Special Credit Opportunities Fund is a fintech AMC's latest offering aiming to support profitable entities. Within 15 months, Neo has already backed 12 companies and made two successful exits through the fund. The goal is to achieve an internal rate of return (IRR) of 22-24% for investors through the fund's investments.
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Artha Venture Fund I delivers 61% IRR, portfolio revenue tops Rs 2,100 Cr
YourStory
·
2m ago
Medial
Artha Venture Fund I (AVF I) has achieved a 61% internal rate of return (IRR) on a Rs 225 crore fund launched in FY19. With investments in 32 seed-stage startups, the fund's portfolio valuation surpassed Rs 750 crore, and FY25 revenue reached over Rs 2,100 crore. AVF I's top-ranked performance involves profitable companies like Agnikul and LenDenClub, a 20% Distributed to Paid-In Capital (DPI), and plans for focused follow-on investments through the Artha Select Fund.
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Purplle Snags $100 Mn From ADIA, Others With Eye On More Offline Stores
Inc42
·
1y ago
Medial
Abu Dhabi's sovereign fund ADIA has led a funding round for beauty ecommerce marketplace Purplle, contributing $100 million. The investment from ADIA, alongside participation from new investor Creaegis, valued Purplle at $1.2-1.3 billion, a 15% increase from its previous funding round in 2020. Purplle, founded in 2012, sells beauty products and appliances, and this new funding will support its growth and expansion in the Indian market.
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SoftBank, Schroders Capital set for big gains in Lenskart IPO
YourStory
·
12d ago
Medial
SoftBank and Schroders Capital are poised for significant gains as Lenskart prepares for a major IPO, selling 25.5 million and 19 million shares respectively. The IPO, partly comprising a fresh issue worth Rs 2,150 crore, aims to raise approximately Rs 8,000 crore overall. Schroders anticipates an 11X return, while SoftBank expects a 6X return. Other investors like PI Opportunities Fund and Kedaara Capital also foresee substantial exits, marking Lenskart's shift to profitability and market debut.
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InCred Alternatives' Singla on latest PE fund thesis, sweet spots, exits and more
VCCircle
·
1y ago
Medial
InCred PE, a part of InCred Alternative Investments, has reached the first close of its inaugural private equity fund. The fund, named IGPF-I, received approximately Rs 330 crore in funding from high net worth individuals and ultra high net worth individuals. InCred PE aims to achieve a final close of the fund soon. In this article, Vivek Singla, the CIO of private equity at InCred Alternatives, discusses various aspects of the fund, including its investment thesis, preferred sectors, and potential exits.
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SoftBank posts profit in FY24 as global bets offset headwinds from Indian bets
YourStory
·
2m ago
Medial
SoftBank Group Corp reported a profit of 517.18 billion yen ($3.49 billion) for fiscal year ending March 2025, driven by gains from its Vision Fund I investments despite setbacks from Indian ventures like Swiggy, Ola Electric, and OYO. Although Vision Fund II faced challenges, SoftBank made significant exits from companies like DoorDash. Despite struggling Indian investments, SoftBank is focusing on AI, leading a $40 billion funding round for ChatGPT-maker OpenAI, highlighting its strategic shift.
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How Unicorn India Ventures Doubled LPs’ Investments With Its Partial Exit Strategy
Inc42
·
1y ago
Medial
Unicorn India Ventures (UIV), a venture capital firm, achieved impressive returns for its Limited Partners (LPs) by partially exiting its investment in the neobanking startup Open. UIV had invested INR 7 crore (about $854,000) in Open when few investors were willing to enter the fintech sector. In 2022, UIV partially exited Open at a valuation exceeding $650 million, resulting in an 85-90X blended return, doubling the initial value of Fund I for its LPs. UIV's success is attributed to its active involvement in startups, in-depth due diligence, and a strategy focused on B2B SaaS companies. The firm recently announced the first close of its INR 1,000 crore Fund III, with a focus on global SaaS and digital platform startups in sectors like climate tech, agritech, spacetech, and semiconductors. UIV's founders believe in controlling entry prices in startups rather than exit prices, which has protected them from market sentiments and resulted in meaningful exits.
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