Private Equity Fund Investments
Logistics firm Leap India attracts $34-M; early investors make part-exit
Mumbai-based pallet pooling firm Leap has raised USD 34 million in a secondary round from investors led by Schroder Adveq and IIFL VC, giving early backers Mayfield Fund, IndiaNivesh and Six Sense Ventures a partial exit with 7x returns. Mayfield will continue to hold around 10% stake in the company. Founded by Sunu Mathew in 2013, Leap is one of the largest pallet pooling companies with an asset pool of approximately 4 million units including pallets, foldable large containers, crates and utility boxes.
From the Venture Intelligence PE-VC Deal Database: Between Dec-14 and Jan-21, Leap India raised over $96-M from TVS Capital, Morgan Stanley, Sixth Sense Ventures, Mayfield, IFC, IndiaNivesh VC, Samena Capital, Sharrp Ventures and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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