JSW Ventures sells part of its holding in Purplle to ADIA
JSW Ventures has sold a part of its holding in e-commerce beauty firm Purplle to Abu Dhabi Investment Authority (ADIA).
JSW Ventures had first invested in Purplle's Series A round in 2016 from their first fund. The partial exit has given them 18 times return on the capital invested.
Commenting on the development, Gaurav Sachdeva, founding partner at JSW Ventures in a statement said, “In our association with Purplle, we experienced how to build an incredible scale with product selection and reach across the cross-section of our country. "Their focus on investing in leadership bandwidth across various verticals is exemplary and sets the template for start-ups making a transition from an early-stage business to a mature organisation in a capital constrained environment.”
Manish Taneja, co-founder CEO at Purplle added, “Apart from providing capital, they have been hands-on, supporting us across various aspects of the business. We enter FY 2023-24 with a significant performance by marquee brands, strong investment trajectory, and aggressively pursuing business growth.”
Manish Taneja and Rahul Dash launched Purplle in 2012 with a dedicated e-commerce store. The retailer runs its own brands which include Purplle, Good Vibes, and NY Bae and retails a wide range of other Indian and international brands.
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