Advantedge nets 30x returns from partial exit in ride-hailing platform Rapido

Delhi-based mobility-focused venture firm Advantedge made a partial exit from Bengaluru-based ride-hailing startup Rapido for USD 28 million, contributing to a total return multiple of 30x on its initial investment.Post the partial exit, Advantedge retains a stake in the urban mobility startup, valued at approximately USD 60-65 million.Recently Advantedge made a partial exit from Rapido by selling to Prosus and has delivered an internal rate of return (IRR) of 67%, including a 111x multiple on the initial investment.