The funding will be used by Chumbak to ramp up distribution and expand its offline presence besides building an internal team for the e-commerce business.
By selling higher-margin items such as kitchenware sets and saris, India’s television shopping players are looking to steal a march against their e-commerce peers.
Finance companies that provide loans to small businesses are grabbing the attention of risk capital investors.
The shares were acquired by Bajaj Holdings & Investment, the holding arm of the automobiles to financial services conglomerate.
SAIF is looking to bring in angel investors at a time when it is making an aggressive push towards expanding its seed portfolio.
The new office will begin operations with four employees who will look for investments in the “sweet spot” of $100 million (Rs 600 crore).
Founded by former investment banker Rajiv Subramanian, the company is also in early talks to raise $8-10 million (Rs 48-60 crore).
This is the third major round of funding for the hospital chain, which raised Rs 175 crore from IVFA in 2008 followed by a Rs 500 crore round in 2012.
The company will launch three games of Khan and Bachchan each over the next year. The first, an action-themed 3D mobile game, will be released in June and star Khan.
Such deals, termed as synthetic secondaries, provide liquidity to investors while also giving entrepreneurs a longer runway to grow the company before a strategic sale.
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