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Venture Highway sells part of stake in Meesho to WestBridge Capital
Economic Times
·
1y ago
Medial
Venture Highway has sold a portion of its stake in Meesho, a social commerce platform, to WestBridge Capital. The financial terms of the transaction have not been disclosed. This move comes as Meesho is seeing rapid growth in its user base and revenue. Venture Highway is a seed-stage fund that invests in early-stage technology startups.
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WestBridge Capital to pick up secondary stake in Meesho at around $3 billion
Economic Times
·
1y ago
Medial
WestBridge Capital is set to acquire a small stake in Meesho, an Indian online commerce marketplace, in a secondary transaction. The deal values Meesho at around $3 billion. Venture Highway, an early investor in Meesho, is selling its stake to WestBridge Capital. WestBridge has previously funded technology companies like Freshworks and Dealshare. Meesho, backed by SoftBank, was last valued at nearly $5 billion in 2021. The funding round comes amidst a trend of late-stage startups engaging in secondary deals with investors.
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Mars Growth to lead Meesho’s secondary round
The Arc Web
·
1y ago
Medial
Singapore's Mars Growth Capital is looking to acquire a stake in Meesho, an ecommerce platform. Through its Dragon Fund, Mars is expected to purchase the largest block of shares in the secondary deal. Existing investor, Peak XV Partners, is also planning to increase its stake through its growth fund. Other investors, including Meta, Venture Highway, and a group of angels, will sell their holdings in Meesho as part of the secondary round, which is estimated to be worth $200-250 million. Meesho reported profitability in Q3 2021, with a profit after tax of $7 million on revenues of $227 million.
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Mars Growth eyes Meesho’s secondary round
The Arc Web
·
1y ago
Medial
Singapore's Mars Growth Capital is in talks to acquire a stake in ecommerce platform Meesho. They are expected to purchase a significant number of shares in a secondary deal through their $500 million Dragon Fund. Existing investor Peak XV Partners (formerly Sequoia India) is also looking to increase their stake through their growth fund. Other investors, including Tiger Global, are considering investments as well. In the secondary round, Facebook parent Meta, Venture Highway, and several angels will sell their holdings in Meesho. The company reported profitability in the July-September quarter of last year, making it more attractive to new investors.
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General Catalyst Merges With Venture Highway To Expand India Play
Inc42
·
1y ago
Medial
Silicon Valley-based venture capital firm General Catalyst has acquired Venture Highway, an early-stage investor based in New Delhi. The new entity, General Catalyst India, plans to invest $500 million to $1 billion in early- and growth-stage investments in India. General Catalyst has previously backed companies like Canva and Airbnb. Venture Highway, founded in 2014 by former WhatsApp executive Neeraj Arora, has investments in startups such as Meesho and Moglix. The acquisition comes as several VC firms raise significant funds to invest in India's growing economy.
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CRED, Spinny Backer General Catalyst Eyes India’s Venture Highway Buyout
Inc42
·
1y ago
Medial
US-based venture capital fund General Catalyst is reportedly in talks to acquire India's seed-focused venture capital firm Venture Highway. General Catalyst is looking to strengthen its presence in India's startup ecosystem and may consider other Indian VC firms if the Venture Highway deal doesn't happen. This move follows the resignation of Samir Sood, co-founder of Venture Highway. If the acquisition goes through, Venture Highway would operate as the investing arm in India for General Catalyst, focusing on early-stage deals.
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Venture Highway founder Samir Sood steps down as partner; Priya Mohan now managing partner
Economic Times
·
1y ago
Medial
Samir Sood has resigned as a partner at Venture Highway, the early-stage investment firm he co-founded. Venture Highway, known for investing in startups like Meesho, Cred, Moglix, and ShareChat, has promoted Priya Mohan to managing partner. Samir Sood will remain as an advisor. Venture Highway, in its next phase, will be led by Priya Mohan and co-founder Neeraj Arora. Sood emphasized that the transition was planned, and there would be no changes in the investing strategy. The firm is currently raising its third fund, led by Mohan and Arora, who both hold the role of managing partners.
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WestBridge, Convergent, Sixth Sense Ventures make $75-mn exit move
VCCircle
·
1y ago
Medial
Private equity firms WestBridge Capital and Convergent Finance, along with venture capital firm Sixth Sense Ventures, have made an exit worth $75 million from an undisclosed company. These firms have joined a growing number of alternative investment firms that have been cashing out on publicly listed companies due to rising stock market valuations. WestBridge sold its entire stake in the company, while Convergent Finance and Sixth Sense Ventures also made significant divestments.
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Grapevine: AIIB may back Mahindra-OTPP InvIT; WestBridge, Norwest eye Meesho stake
VCCircle
·
1y ago
Medial
The Asian Infrastructure Investment Bank (AIIB) is likely to support the Mahindra Group and Ontario Teachers' Pension Plan (OTPP) in their renewable energy infrastructure investment trust (InvIT) venture. The InvIT, called Sustainable Energy Infra Trust, is planning to raise Rs 2,500 crore ($300 million) with AIIB as the anchor investor. This move aims to drive sustainable energy investments in India. Additionally, companies like WestBridge and Norwest are reportedly showing interest in acquiring a stake in e-commerce platform Meesho.
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Peak XV Partners sells 1.5% stake in Aptus Value Housing for Rs 213 crore
Economic Times
·
1y ago
Medial
Peak XV Partners has sold a 1.5% stake in Aptus Value Housing for INR 213 crore. This move comes as a part of the company's efforts to bring down its stake in the affordable housing finance company. Aptus Value Housing is backed by private equity firm WestBridge Capital and has a strong presence in Tamil Nadu.
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‘Majority of India won’t pay for convenience’: Meesho co-founder Vidit Aatrey on quick commerce
Business Today
·
5m ago
Medial
Meesho co-founder Vidit Aatrey emphasizes affordability and accessibility as crucial for engaging India's online consumers and small businesses. As Meesho anticipates a public offering, the company has approached the NCLT for reverse flipping to India, planning to file its DRHP later this year. Over the past five years, Meesho experienced a 60-fold market growth. Significant funding comes from investors like Tiger Global, Think Investments, Mars Growth Capital, Peak XV Partners, and WestBridge Capital.
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