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Chiratae Ventures gets $70 million via portfolio sale as VCs eye exits

Economic Times · 1y

Chiratae Ventures, one of India's oldest venture capital firms, has reportedly sold stakes in some of its portfolio companies to Madison India Capital. The deal is estimated to have valued the stakes at around $70 million, including shares in companies like Lenskart. The sale involved companies from Chiratae's Fund-II and Fund-III. Madison India Capital is backed by Lexington Partners and has previously invested in companies like Pine Labs and Snapdeal. This transaction comes amid pressure from global limited partners for venture capital funds to show exits and returns.