Private Equity Fund Investments
Content platform VerSe raises $450-M from Siguler Guff, Carlyle, others
Bengaluru-based VerSe Innovation, the parent company of news aggregation platform Dailyhunt and short-video service Josh, has raised USD 450 million from investors led by Siguler Guff & Co, Baillie Gifford, Carlyle Group (via Carlyle Asia Partners Growth II), Bay Capital and IIFL. Existing investors Sofina Group, Qatar Investment Authority and BCap also participated in the round. The round comprises a large primary fund infusion and a smaller secondary share through which some early investors have partially cashed out. The company's valuation has doubled from the previous fundraising round. Avendus Capital was the financial advisor to VerSe on the transaction. VerSe will use the capital to grow Josh, strengthen its technological platform and to broaden its AI/ML and data science capabilities across user, engagement and retention metrics, drive further monetization including ecommerce and live streaming.
From the Venture Intelligence PE-VC Deal Database: Between Nov-20 and Feb-21, Dailyhunt raised over $209-M from Glade Brook Capital, Sofina, Qatar Investment Authority, Lupa Systems, M12, Falcon Edge Capital, CapitalG and B Capital Group.
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