Private Equity

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Tatas plan $2.5 B fund raise for e-comm; may tap PE funds

Economic Times  

Tata Sons has approached global investors to raise an estimated USD 2-2.5 billion for its digital business, even as the group prepares for a pilot launch of its super app in Bengaluru in September. The group is likely to tap PE funds in the initial stage of fundraising and would look at strategic investors after the business demonstrates a sizable scale-up. Health and fitness startup Curefit co-founder Mukesh Bansal, who has joined Tata Digital as president after the Mumbai-based conglomerate picked up a stake in his company, is a key member of the fundraising team. The proposed super app will combine offerings across ecommerce, financial services, fashion and lifestyle, among others.