NEW DELHI: JSW Ventures on Monday stated it has offered its shareholding by way of Fund I in e-commerce agency Purplle to Manipal Group. The corporate will proceed its funding in Purplle by way of the second fund, JSW Ventures stated in a press release.
“Purplle was one in all our earliest investments as a fund in 2016 and it has delivered a 57 per cent IRR (inside price of return) …with this exit, we now have returned 2.7 occasions the corpus of the primary fund.We proceed to remain invested in Purplle from our second fund,” Sachin Tagra, Managing Companion at JSW Ventures, stated.
In Might 2023, JSW Ventures offered part of its holding in Fund I in Purplle to the Abu Dhabi Funding Authority (ADIA).
The corporate didn’t disclose any monetary particulars of the transaction.
In line with trade sources, the primary fund of JSW Ventures is estimated to be round Rs 100 crore.
Ranjan Pai, Chairman of Manipal Group, stated: “The Purplle group has created a digital ecosystem that revolutionises how Indian shoppers uncover and expertise magnificence merchandise.”
A part of steel-to-infrastructure JSW Group, JSW Ventures is an early-stage institutional enterprise capital fund investing in expertise corporations throughout B2B and B2C platforms in client, healthcare, monetary companies, and agriculture industries.
“Purplle was one in all our earliest investments as a fund in 2016 and it has delivered a 57 per cent IRR (inside price of return) …with this exit, we now have returned 2.7 occasions the corpus of the primary fund.We proceed to remain invested in Purplle from our second fund,” Sachin Tagra, Managing Companion at JSW Ventures, stated.
In Might 2023, JSW Ventures offered part of its holding in Fund I in Purplle to the Abu Dhabi Funding Authority (ADIA).
The corporate didn’t disclose any monetary particulars of the transaction.
In line with trade sources, the primary fund of JSW Ventures is estimated to be round Rs 100 crore.
Ranjan Pai, Chairman of Manipal Group, stated: “The Purplle group has created a digital ecosystem that revolutionises how Indian shoppers uncover and expertise magnificence merchandise.”
A part of steel-to-infrastructure JSW Group, JSW Ventures is an early-stage institutional enterprise capital fund investing in expertise corporations throughout B2B and B2C platforms in client, healthcare, monetary companies, and agriculture industries.
