In Mamaearth’s oversubscribed IPO, Peak
The enterprise fund expects a 10x return on its funding in Mamaearth, in keeping with an evaluation of its IPO paperwork by TechCrunch. Mamaearth is Peak
The corporate’s full exit and divestment of shares final week has not beforehand been reported. Zomato didn’t reply to a request for remark. Shares of Zomato rose 10% on Friday afternoon after the Gurugram-based firm reported a shock revenue for the second quarter.
Peak firm recordsdata. In accordance with the paperwork, Peak XV nonetheless has some stake within the startup.
Peak XV declined to remark.
The returns are a lift for the corporate, which with a capital pool of $2.5 billion has a considerably bigger capital quantity than some other enterprise capital agency centered on India and Southeast Asia. The fund has made greater than 400 investments and its portfolio consists of greater than 50 unicorns and a complete of roughly 40 corporations with complete annual revenues of greater than $100 million.
Within the post-Sequoia world, Peak XV has accelerated dealmaking, at the same time as broader personal markets stay fairly sluggish. Portfolio executives informed a gathering of portfolio founders in August that they preserve optimism concerning the area and now really feel higher freedom to take a extra aggressive method.
Simply days after Sequoia US and its India and SEA companies introduced their separation, Peak In accordance with one evaluation, it achieved a return of over 15x on Go Colours. The corporate additionally not too long ago offered shares in safety firm Fast Heal and has general made a revenue on its funding, though TechCrunch was unable to find out the corporate’s complete earnings.
Peak XV now additionally needs to increase its deal with Australia and shut offers within the US. Peak XV’s current early stage Surge cohort featured two Australian startups. Neil Shen, the pinnacle of Sequoia China, beforehand took cost of reviewing a majority of Australian offers, in keeping with one other supply conversant in the matter. Sequoia China additionally mentioned goodbye to the broader Sequoia household in June this 12 months.