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Snapdeal founders exit Urban Company with ₹111 crore, a 200x ROI
Inshorts
·
1y ago
Medial
Kunal Bahl and Rohit Bansal, Snapdeal founders, exited Urban Company with 200x return on their 2015 seed investment of ₹57 lakh, now worth ₹111 crore. Their Titan Capital, backing over 200 startups, invested in companies like Ola and RazorPay. Meanwhile, Dharana Capital acquired ₹400 crore in Urban Company shares. Snapdeal founders plan to reinvest gains in startups.
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Kunal Bahl and Rohit Bansal exit Urban Company with 200 times return
Economic Times
·
1y ago
Medial
Snapdeal founders Kunal Bahl and Rohit Bansal have exited from at-home services platform Urban Company, selling their stake to Dharana Capital in a secondary transaction worth $50 million. The founders, along with some employees, made a full exit from the company, earning a 200 times return on their initial investment. The duo has made angel investments in 300 startups through Titan Capital and plans to reinvest their gains into other startups. Urban Company reported a jump in operating revenue for FY23 and is expected to turn profitable in FY25.
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Titan Capital Winners Fund raises target corpus of Rs 200 Cr
Entrackr
·
11m ago
Medial
Titan Capital Winners Fund, which is backed by Snapdeal co-founders Kunal Bahl and Rohit Bansal, has raised its target corpus of Rs 200 crore as the duo will anchor this fund as its largest investors. The fund will invest exclusively in follow-on rounds of breakout companies from its seed portfolio. “With the Titan Capital Winners Fund, we can more significantly support the founders of our portfolio companies in subsequent rounds of capital raises, further strengthening Titan Capital’s partnership with them,” Bahl and Bansal said in a joint press release. The Titan Capital Winners Fund focuses on tech-enabled businesses led by founders and management teams building category creators. The fundraise was completed in less than six months and the fund’s LPs include prominent family offices, CEOs and founders of leading companies, and key figures from the VC landscape. Titan Capital said that a select number of LPs are expected to be added via the optional greenshoe. In addition to Bahl and Bansal, the Winners Fund is managed by a team including Chetan Rana, who is serving as the chief financial officer (CFO). Titan Capital has backed more than 250 companies since 2011. Some of its seed investment portfolio includes Urban Company, MamaEarth, OfBusiness, Razorpay, Unicommerce, and Ola Cabs. Through the fund, Bahl and Bansal also made hefty exits from Urban Company, MamaEarth, Ola and Credgenics. For context, they had invested Rs 57 lakh total in Urban Company’s early funding rounds and recently took complete exit with Rs 111 crore. In Ola, their original investment was to the tune of $60,000 while the SoftBank-backed company reached its peak valuation of $7.3 billion in 2021 when they exited fully. E-commerce SaaS platform Unicommerce, which also comes under the umbrella of Snapdeal owner AceVector, went public. It was one of the profitable startups to get listed on the stock exchange.
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How Snapdeal founder Kunal Bahl became the titan of early-stage investing
Livemint
·
1y ago
Medial
Snapdeal founders Kunal Bahl and Rohit Bansal have seen success as investors with their venture firm, Titan Capital, making profitable exits from startups like Urban Company, Ola Cabs, and Mamaearth. However, their own e-commerce platform, Snapdeal, failed to achieve the same level of success and faced a boardroom battle with investors. Now, Snapdeal is set to list its logistics-focused SaaS business, Unicommerce, on the Indian stock market. Despite their tumultuous journey with Snapdeal, Bahl and Bansal remain committed to supporting and backing up-and-coming startups through Titan Capital.
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Titan Capital closes Rs 200-crore fund to double down on existing portfolio startups
Economic Times
·
11m ago
Medial
Titan Capital, founded by Snapdeal co-founders Kunal Bahl and Rohit Bansal, has raised Rs 200 crore for its new fund. The fund, called Titan Capital Winners Fund, will be used to support the existing portfolio companies of Titan Capital. This marks the first time that Titan Capital has raised external capital, with investments so far being made by Bahl and Bansal themselves. The new fund is backed by family offices, CEOs, founders, and venture capitalists. Titan Capital's previous investments include Urban Company, MamaEarth, OfBusiness, Razorpay, Unicommerce, and Ola Cabs.
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Urban Company founders sell Rs 780 crore worth of shares through multiple pre-IPO secondary deals
Economic Times
·
3m ago
Medial
Urban Company’s founders sold shares worth Rs 780 crore in pre-IPO transactions, using part of the proceeds to fund payments for a 2019 rights issue. Buyers included Prosus Ventures and Swiggy's CEO. Post-sale, the founders hold about 20% of Urban Company. The company, moving towards a Rs 1,900-crore IPO, turned profitable with a Rs 242 crore net profit in the first nine months of FY25, recording substantial growth in operating revenue and active users.
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Softbank-backed Unicommerce to acquire Shipway as IndiaMART exits
VCCircle
·
9m ago
Medial
Unicommerce eSolutions, a Softbank-backed company, announced its acquisition of Gurugram-based logistics software-as-a-service company Shipway. This deal provides an exit for investors including IndiaMART. Unicommerce will pay Rs 68.4 crore in a cash and stock deal for the acquisition. Unicommerce is an e-commerce-focussed SaaS provider and is part of the AceVector Group, which also owns Snapdeal.
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Urban Company DRHP: To raise Rs 1,900 Cr via primary issue and OFS
Entrackr
·
3m ago
Medial
Home services marketplace Urban Company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. The IPO includes a fresh issue of equity shares worth Rs 429 crore (approximately $50 million) and an offer for sale (OFS) of equity shares amounting to Rs 1,471 crore, as per the DRHP. As part of the offer for sale, Accel India will offload shares worth Rs 433 crore, while Elevation Capital and Tiger Global will sell shares valued at Rs 346 crore and Rs 303 crore, respectively. VY Capital and Bessemer will divest shares worth Rs 216 crore and Rs 173 crore through the IPO. According to the DRHP, Elevation Capital is the largest external shareholder with 10.84%, followed by Accel India and VY Capital, which hold 10.5% and 9.18%, respectively. Steadview and Prosus each own 6.80%, while Bessemer and Tiger Global command 6.46% and 4.73% stakes, respectively. The firm’s co-founders — Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra — collectively own 20.01%, divided equally among the three. Urban Company plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by Kotak Mahindra, Morgan Stanley, Goldman Sachs, and JM Financial, who are acting as the book-running lead managers. Importantly, as an early-stage investor, Accel is set to secure a significantly larger exit than any other investor in Urban Company. Its exit value will be 16.6 times higher than Tiger Global’s, 5.6 times higher than VY Capital’s, and 97% higher than Bessemer India’s. Elevation Capital, which also invested in Urban Company during its early years, is expected to achieve a lucrative exit as well. According to the company, the net proceeds from the fresh issue will be utilized for the new technology, cloud infrastructure, lease payments, marketing, and other general corporate purposes. In the first nine months of FY25, the company posted revenue of Rs 846 crore and a restated profit of Rs 24.25 crore. For the full fiscal year ended March 2024, it reported revenue of Rs 828 crore and a loss of Rs 92.7 crore.
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Titan Capital’s 100x return club: MamaEarth, Ola, Urban Company and Credgenics
Entrackr
·
1y ago
Medial
Early stage venture capital firm Titan Capital has reportedly made a 100-fold return on its investments in companies like Credgenics, MamaEarth, Ola, and Urban Company. Titan Capital invested in Ola in 2011 and fully exited in late 2021, while its investment in Urban Company's seed round in 2015 yielded a 100x plus return in 2021. The firm is also expected to see significant returns from D2C brand MamaEarth, which recently sought a listing. With over 200 startup investments, Titan Capital has backed six unicorns and has demonstrated an ability to choose successful founders and opportune exit points.
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Honasa Consumer listing puts focus on investors’ returns, unrealised gains
Economic Times
·
1y ago
Medial
Honasa Consumer, the parent company of Mamaearth, and the attention now being given to the returns made by its investors and the unrealized gains of non-selling shareholders. Fireside Ventures, an early investor, has raised Rs 258 crore from the IPO and still holds unsold investments worth Rs 821.49 crore. Stellaris Venture Partners, another early investor, sold a stake worth Rs 437.3 crore, including Rs 355 crore from the IPO. Angel investors, including Snapdeal founders, also saw significant returns.
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Urban Company set to file DRHP for Rs 2,000-crore IPO
Economic Times
·
3m ago
Medial
Urban Company is set to file its draft red herring prospectus for a Rs 2,000-crore IPO, including a Rs 500 crore primary issue and a Rs 1,500 crore secondary share sale, with backers like Accel and Vy Capital involved. Founders won't participate in the OFS component. The company, valued at $1.8 billion, shows improved financials, narrowing its net loss and increasing revenue. It has diversified into D2C with new product launches.
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