Private Equity

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NIIF pulls out of FirstCry investment: report

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The Union Government's National Investment & Infrastructure Fund (NIIF) has pulled out of its proposed investment in Pune-based unicorn online baby & kids products marketplace, FirstCry. PremjiInvest - the co-investor in the round - is expected to buy the stake that was proposed to be purchased by NIIF. With a user base of over 40 lakh consumers and a retail footprint of over 300 stores, FirstCry is spread across 125 cities. The startup claims to offer 200,000 baby and kids products across 2,000 brands.

From the Venture Intelligence PE-VC Deal Database: Between Apr-11 and Mar-21, FirstCry had attracted over USD 800 M from including from TPG, SoftBank, ChrysCapital, Premji, NEA, Valiant Capital, Kris Gopalkrishnan, Chiratae Ventures and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)