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Sunday, July 12, 2020
Home News Kedaara Capital eyes Lenskart stake at $1b valuation

Kedaara Capital eyes Lenskart stake at $1b valuation

Kedaara Capital is now in talks to buy the shares in the Omni-Channel eyewear retailer LensKart with a secondary deal, which is going to be valued at $1 Billion, according to the report which has been revealed.

Some of the existing investors which include being Chiratae Ventures and Premji Invest are among those likely to partially liquidate their holdings, said the announcement.

This will going to be the first investment by the Kedaara, a homegrown private equity company, in the consumer internet sector domain, and comes at a time when some big private companies have senses opportunities in the space.

 For Lenskart, this will be going to be a significant mark from its previous valuation of around $460-$470 million, and it will be the latest to join the Unicorn Club of privately held firms valued at around $1 billion or even more. Lenskart is also in discussions with the SoftBank Vision Fund, according to the report revealed

 “The secondary deal, which is expected to be in the range of at least $100 million, has more than doubled Lenskart’s valuation compared to its previous round,” said a person aware of the details.

In August 2018, Lenskart had secured $70 million from the TPG Growth, Chiratae Ventures and SteadView Capital.

In May 2019, SteadView Capital secured $20 Million in the second funding round.

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Udit Agarwalhttp://vyapaarJagat.com
Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to vyapaarjagat. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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