Private Equity Fund Investments
Sovereign funds, PEs seek clarity as Tata Digital looks for $5-B for super app
The Tata Group has approached global investors including Canada Pension Plan Investment Board (CPPIB), Singapore's Temasek Holdings, SoftBank Group, Abu Dhabi Investment Authority and two European money managers to raise at least USD 5 billion for its 'super app' ecommerce platform. The funds have sought greater clarity from Tata Digital about the proposed app. They want details on the operational structure of Tata Digital and the plans for integration with existing retail operations, such as Trent and Titan. The group has begun testing the super app as part of a pilot project in Bengaluru.
From the Venture Intelligence M&A Deals Database: In 2021 Tata Digital has acquired e-grocery unicorn BigBasket and the healthtech focused 1MG and CureFit.
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