Liquidity Events
Mayfield sells its 2% stake in EV-based cab operator BluSmart to Anmol Jaggi for Rs.32-Cr
Venture capital fund Mayfield India has exited from Gurugram-based electric mobility startup BluSmart, selling its entire stake to the company's chief executive Anmol Singh Jaggi for around INR 32 crore. With the purchase of Mayfield's 2% shares, the six founders of BluSmart now own over 30% stake in the company. Mayfield India was the first institutional investor in BluSmart. Mayfield had invested about INR 15.5 crore across seed and Series A rounds. It held around 2% stake after the company's latest fundraise announced earlier this month. It is learnt to have sought an exit on account of its fund life coming to an end. The exit has fetched double the amount of investment Mayfield did in BluSmart.
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