Liquidity Events
Z47, Tiger Global trim stake in EV maker Ola Electric
Venture capital firms Z47 (formerly Matrix Partners India) and Tiger Global have reduced their stakes in Bengaluru-based electric vehicle maker Ola Electric . Z47 has sold approximately 0.81% of its stake, earning between INR 155 crore and INR 192.9 crore, while Tiger Global, through its Internet Fund III, has reduced its shareholding by 0.21% and is estimated to have realised INR 39 crore and INR 48.7 crore.The development comes after South Korean automotive major Hyundai’s complete exit by selling shares worth INR 552 crore in Ola in June.Ola Electric raised USD 56 million as part of its Series A fundraise in 2019, where Z47 and Tiger Global had first invested in the company.
Between Feb 2019 and June 2024, Ola Electric had attracted about USD 1,065-M from 360 ONE, Alpha Wave Global, Alpine Capital, Archerman Capital, Edelweiss Private Equity, Tekne Capital Management, Temasek, Tiger Global, Z47 and others.For FY25, Ola Electric had reported about INR 4,514 Cr in Operating Income and about INR 2,276 Cr in Net Loss.
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