PE-VCs drive reboot; Cred backers gain Meta
PE-VCs push structural reboot; Cred backers’ Meta gains Want this newsletter delivered to your inbox? Also in the letter From being a trust to gaining
PE-VCs push structural reboot; Cred backers’ Meta gains Want this newsletter delivered to your inbox? Also in the letter From being a trust to gaining trust: AIFs call for switch to LLP model What’s the change What’s an LLP? Expert take Cred’s angels, institutional investors score big in Meta deal Driving the news Who sold Micky Malka's Ribbit Capital sold shares worth about Rs 250 crore, while Peak XV Partners offloaded stock worth Rs 300-350 crore.
RTP Global pared holdings worth Rs 100-120 crore, and Tiger Global sold shares worth about Rs 105 crore. Silicon Valley's General Catalyst and Belgian investor Sofina each sold shares worth Rs 60-70 crore. Investors could sell up to around 10% of their holdings. Cred employees are also expected to receive liquidity through an Esop buyback. Why it matters The deal hands Cred’s early backers a sizeable cash exit, even after last year’s valuation reset, when the company raised capital at a $3.5 billion valuation, down from $6.4 billion in 2022., down from $6.4 billion in 2022.
For venture funds, the transaction lands at a time when exits remain scarce and LPs are pressing hard for cash distributions. WhatsApp pushing businesses towards Meta AI with new pricing model Driving the news Legal troubles Also Read Centre asks Meta to pause WhatsApp username rollout
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