Private Equity Fund Investments
Used cars selling platform Cars24 raises $259-M
Gurugram-based used cars platform Cars24 has raised $258.6 million from eight investors. DST Asia, Alpha Wave Incubation and Tencent (via its Europe based special purpose vehicle or SPV, Zennis Capital BV) have put in $75 million each whereas Moore Strategic Partners has invested $22.7 million. New York-based existing backer Exor Seeds has invested $8.3 million. HPS Investment Partners' chief executive officer Scott Kapnick and BloombergSen Investment Partners have invested $2.2 million and $472,000 respectively. The Cars24 (which had become a Unicorn in 2020) has been valued at between $1.72 to $1.75 billion in the latest round.
From the Venture Intelligence PE-VC Deal Database: Between Nov-2015 and Jul-2021, Cars24 had raised over USD 350 M from Asia Venture Group, Apoletto, VH Capital, Unbound, DST Global, Sequoia Capital India, Moore Strategic Ventures, Unbound, Trifecta Capital (venture debt) and others.
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