Private Equity

Private Equity Fund Investments

D2C focused Mensa Brands raises $33-M more from AWI, Norwest, Accel, others

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Bengaluru-based “Thrasio style” venture Mensa Brands has closed another USD 33 million from four existing investors who had invested USD 50 million earlier in a mix of debt and equity. Alpha Wave Incubation (AWI) and Norwest co-led the new round with USD 11 million each, while Accel put in USD 10 million. Singapore-based Gablehorn Investments has invested USD 1 million in the six-month-old venture. Bergwelt, an SPV which represents the founders of Mensa Brands along with a few others, has also participated in this round with USD 580,000. Following the new investment, Accel is the largest stakeholder among investors with 18%, while AWI and Norwest hold 15.40% each. Bergwelt owns 48.81%. Mensa is reported to have been valued between USD 195 to 205 million (post-money). (It was valued at USD 62-66 million in its Series A round.) Mensa Brands is in talks to raise USD 60 million from Tiger Global. Tiger Global's co-founder Scott Shleifer had invested USD 400,000 in the company's first institutional round.