Investors are increasingly becoming more involved in steering the fortunes of domestic Internet companies after pouring in millions of dollars into them in 2014 and 2015.
Eight of the dozen founders of Housing.com have written to the board of the combined entity complaining about not being offered equal share terms.
The duo are currently on a gardening leave till July end and are expected to launch their own venture debt fund later this year.
As managing partner at SAIF Partners, Adusumalli has often struck gold. The VC firm’s total $70 mn investment in Paytm is now estimated to be worth about $1.5 bn.
Share sale in India’s internet companies like Flipkart, Paytm to new investors provides breather to VC firms
The investment exits this year are being crafted mostly through secondary share transactions, with new investors acquiring equity in a company from earlier investors.
Prime, which includes quick deliveries and a video service, was launched by Amazon in India in July 2016 and has helped it drive loyalty among high-value customers in its battle for market leadership against Flipkart.
The funding momentum comes after Ola decided to raise capital at a lower valuation of $3 billion, from $4.5-5 billion in 2015, from SoftBank in November last year.
Gupta, who will be based out of the company’s Singapore office, was till recently heading the TMT (technology, media and telecom) vertical in India and Southeast Asia for Deutsche Bank
The chip, which weighs about 25 grams and can be mounted on top of any cricket bat, generates data for every shot that the batsman plays.
The backing by the family offices, which till now have been primarily investing in technology-focused venture capital funds, indicates a broader appetite for early-stage companies.
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