PE Fund Investments
Temasek to invest in cloud kitchens firm Rebel Foods; Coatue, Lightbox and Peak XV make part exits
Singapore-based investment firm Temasek (through its unit, Jongsong Investment) is to lead a USD 100-200 million funding round in Mumbai-based cloud kitchens operator Rebel Foods . The deal, which includes both primary and secondary sales, will see Temasek become the biggest shareholder of the company.As part of the secondary component of the deal, Temasek will purchase stakes from existing investors Coatue Management, Lightbox, and Peak XV Partners.Rebel Foods operates 11 cloud kitchen brands including Faasos, Behrouz Biryani and Oven Story. It operates more than 450 cloud kitchens across 10 countries. It is planning an IPO in the next 12-18 months.
Between Oct 11 and Nov 21, Rebel Foods had raised about USD 540 M from various PE-VC investors.
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