Vineet Rao, co-founder and chief executive of Indian social commerce DealShare, has stepped down from the top role, the Tiger Global and Alpha Wave Global-backed startup said Monday. Rao will work with the startup’s board to identify the next chief executive, the Monday statement added. The startup, which did not say why Rao was stepping…
Fidelity has slashed the estimated worth of its holding in SaaS startup Gupshup by over 20% in a month and by more than 50% since the original investment in the latest brutal markdown across private markets. The U.S. asset manager valued its holding in Gupshup at $8.08 million at the end of June, down from $10.15…
Walmart paid $1.4 billion to buy out Tiger Global’s remaining holding of Flipkart shares as the retail giant further expands its stake in the Indian e-commerce startup. The transaction took place in recent days and Tiger Global, which has cashed most of its Flipkart shares earlier, overall made a return of $3.5 billion on an…
Indian startups experienced a significant contraction in funding in the first half of 2023, revealing the knock-on effect of broader public market instability on young ventures in emerging regions. The first six months of 2023 saw Indian startups raise a mere $5.46 billion, a substantial 68% decline from the $17.1 billion during the same timeframe…
Lee Fixel’s Addition is looking to raise $1.5 billion venture capital fund as the former Tiger Global executive continues to secure large sums of money despite the slowdown in the market. Fixel’s Addition disclosed the fundraising target in a securities filing. It’s Addition’s fifth fund in less than four years with all previous funds amassing…
PropTech firm Aurum is acquiring NestAway, a once high-flying Indian startup operating in the same space, for up to $10.9 million, in a deal that marks a near complete erosion in value for the startup’s investors. Eight-year-old NestAway raised $115 million over the years and was valued at $227 million in a funding round in…
Some high-profile venture capital and private equity firms are slashing the valuation of their holdings, causing billions in apparent profits to evaporate as the economic downturn undermines the sustained growth of the last 13 years. The California Pension System, the largest pension system in the U.S. whose investments are sprinkled across the globe, injected $368.8…
Infinite Uptime, an Indian industrial IoT startup that offers predictive maintenance solutions for machinery, has secured an additional $18.85 million as part of an ongoing funding round led by Tiger Global at a valuation of $60 million post-money. The Series B3 round also saw participation from other existing investors including Mayfield, GSR Ventures, VenturEast and…
Egyptian fintech Axis has launched its digital payments platform to the North African market after securing a license from the apex bank, Central Bank of Egypt (CBE), for its open-loop mobile wallet, axisPay, which offers a digital banking alternative for small businesses and their employees. This is coming almost 18 months after the startup received…
About two-dozen venture capital firms say they are teaming up to “build a robust movement” in the VC business to combat the climate crisis. The group calls itself the Venture Climate Alliance, or VCA. The coalition counts well-known tech investors, including Kleiner Perkins, Tiger Global and Union Square Ventures as members, and said in a…
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