Liquidity Events
Zodius exits B2B e-commerce co. OfBusiness with $100-M
Gurugram-based business-to-business (B2B) e-commerce player OfBusiness has seen a secondary share sale of around USD 100-120 million with early investor Zodius Capital making a complete exit. The secondary sale in OfBusiness - which was last valued at USD 5 Billion - has been struck at a valuation of around USD 4 Billion. Zodius’ stake was largely sold to a group of high-net-worth individuals (HNIs) and family offices.Zodius Capital has bagged more than USD 100 million in returns on its initial USD 8 million investment in OfBusiness in late 2016 (at a USD 50 million valuation). Zodius itself had been acquired by KKR-backed Avendus Capital in 2017.
Between Feb 2016 and Dec 2021, OfBusiness had raised about USD 767.75 M from Alpha Wave Global, Marshall Wace, Panthera Growth Partners, SoftBank Corp, Tiger Global, Creation Investments, Norwest, Z47, Currae Healthtech Fund, Zodius Capital and InnoVen Capital.
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