Private Equity

PE Fund Investments

3 family offices invest Rs.435-Cr in baby products e-tailer FirstCry; Softbank sells 2% stake

Economic Times  

Ranjan Pai's MEMG Family Office, Harsh Mariwala's VC investment firm Sharrp Ventures and the Hemendra Kothari's DSP Family Office have together invested INR 435 crore in baby products retailer FirstCry. SoftBank, which held 29% in the company, is reported to have diluted its stake by about 1.5-2% as part of the secondary share sale. Avendus Capital was the exclusive financial advisor to FirstCry in this transaction. FirstCry also has Premji Invest – the investment office of Wipro's Azim Premji – as a key investor with about 9-11% stake, while Mahindra Retail holds 12-13%, and TPG, a 6-7% stake.