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Premji Invest scores a multi-bagger with $250 mn exit
VCCircle
ยท
7m ago
Medial
Premji Invest, the family office of Wipro founder chairman Azim Premji, has scored a significant profit from the exit of one of its portfolio companies. The investment firm, known for its long-term investments, achieved outsized returns from a new-age company that it backed almost nine years ago. This successful exit adds to Premji Invest's track record of generating impressive profits from its investments.
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PremjiInvest sets course for nearly $200 mn exit with a multi-bagger
VCCircle
ยท
1y ago
Medial
PremjiInvest, the family office of Wiproโs Azim Premji, is preparing to exit a multi-bagger investment and reportedly garnering nearly $200 million in returns. The investment firm, known for its involvement in venture capital and growth stage opportunities, backed the successful new-age company almost a decade ago. This move highlights PremjiInvest's ability to identify and capitalize on promising investment opportunities.
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PremjiInvest scripting nearly $250 mn exit with bumper returns
VCCircle
ยท
1y ago
Medial
PremjiInvest, the family office of Azim Premji, founder chairman of Wipro, has made a successful partial exit that yielded 10x returns earlier this year. The investment firm has now sold a five-year old private equity-style portfolio bet, aiming for another lucrative return. The amount for the latest exit is estimated to be around $250 million.
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True North scripting a multi-bagger with $250-mn PE exit
VCCircle
ยท
1m ago
Medial
True North, a private equity firm, has exited one of its longest-held investments, initially backed in 2010, with a $250 million sell-off. Despite holding the investment for a lengthy period, which limited potential gains, the firm has undertaken several monetization moves and reduced the target corpus of its seventh flagship fund in recent years. This exit marks another significant transaction amid their strategic financial maneuvers.
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Premji Invest In Talks To Invest $10-$15 Mn In AI Startup Galileo
Inc42
ยท
10m ago
Medial
Premji Invest, the investment arm of Indian conglomerate Wipro, is set to invest $100 million in US-based data intelligence firm Galileo. The funding will be part of Galileo's Series B round and marks Premji Invest's fifth AI investment this year. Galileo develops data intelligence tools that help improve the accuracy of machine-learning models. Earlier this year, Premji Invest invested in Hippocratic AI, Hugging Face, Canva, and Poolside.
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Motilal Oswal Alts sets course for multi-bagger exit from eight-year-old consumer bet
VCCircle
ยท
6m ago
Medial
Motilal Oswal Alternates (MO Alts), the private equity division of Motilal Oswal Financial Services, is preparing to exit a long-term investment in a consumer goods brand, marking a potential multi-bagger return. The Mumbai-based firm is set to fully divest from this eight-year-old venture. In 2024, MO Alts has already made multiple investments and recorded one exit. Details about the consumer goods brand and financial specifics remain undisclosed.
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Premji Invest saw three long-term partners leaving firm this year
Economic Times
ยท
1y ago
Medial
Premji Invest, the private investment arm of billionaire Azim Premji, has seen the exit of three of its four long-term partners in 2023. The most recent was Rajesh Ramaiah in August after a 13-year stint with the firm. The exits are part of the firm's strategy to have partners rotate after approximately 15 years and the completion of three funds. The investment firm has made investments in companies like Lenskart, Fabindia, TVS Credit Services, and FirstCry.
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Azim Premjiโs family office crosses $10 bn in managed assets
The Arc Web
ยท
1y ago
Medial
Premji Invest, the family office of Wipro founder chairman Azim Premji, has rapidly grown its assets under management to over $10 billion, with a potential value exceeding $14 billion. With investments in both public and private companies in India and the US, the firm's overseas assets under management are estimated at around $4 billion. The philanthropic entity Azim Premji Foundation serves as the sole limited partner of Premji Invest, contributing approximately $2-3 billion to its investments. Premji Invest, accounting for roughly one-third of Wipro's market cap, supports the foundation through its profits and proceeds.
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Manipalโs Ranjan Pai to invest in Atul Guptaโs $250 mln fund
Livemint
ยท
11m ago
Medial
Manipal group chairman, Ranjan Pai, is considering investing in Trident Growth Partners' $200-$250 million fund. Trident Growth Partners, founded by former Premji Invest partner Atul Gupta, aims to focus on growth-stage companies across various sectors. The fund has already received commitments from other investors. Gupta brings a wealth of experience from overseeing successful Indian startups during his tenure at Premji, while Pai is known for his investments in the Indian startup ecosystem. The discussions between the two parties are still in the preliminary stage.
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First Cheque partially exits GIVA with 75-fold return
Entrackr
ยท
1y ago
Medial
Early-stage venture capital firm First Cheque has taken a partial exit from its portfolio company GIVA, a silver and gold jewelry brand. First Cheque received a 75x return on its initial investment, equating to an internal rate of return (IRR) of 194%. GIVA recently raised $33 million in a Series B round led by Premji Invest. While the exact exit amount was not disclosed, it's estimated to be around $7.5 million based on the return percentage. GIVA offers certified silver jewelry with a lifetime replating service and a 6-month warranty.
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Dezerv Raises $32 Mn From Premji Invest, Others At A Valuation Of Over $200 Mn
Inc42
ยท
1y ago
Medial
Dezerv, a wealthtech startup, has received a $20 million investment from Premji Invest in its Series B funding round. Existing investors, including Elevation Capital, Matrix Partners, and Accel Partners, also participated in the funding. Established in 2021, Dezerv claims to have managed assets worth over INR 6,000 crore since its inception.
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