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JSW Ventures Announces Partial Exit From Purplle

JSW Ventures first invested in Purplle’s Series A round in 2016 from its first fund

JSW Ventures Announces Partial Exit From Purplle

Outlook Start-Up Desk

POSTED ON May 26, 2023 12:18 PM

Mumbai-headquartered JSW Ventures, the corporate venture arm of JSW Group, has partially exited its shareholding from Purplle in a secondary sale to the Abu Dhabi Investment Authority (ADIA). 

JSW Ventures first invested in Purple’s Series A round in 2016 from its first fund. It also contributed significantly to the company’s journey to become a unicorn. 

The partial exit in Purplle has generated an 18x return on the capital it invested. Following this transaction, JSW Ventures has returned 2x of the Fund I corpus to their investors.

Commenting on the investment, Gaurav Sachdeva, Founding Partner at JSW Ventures, said, “It has been a privilege to partner with Manish, Rahul and Suyash on their stellar journey since 2016. In our association with Purplle, we experienced how to build an incredible scale with product selection and reach across the cross-section of our country. Their focus on investing in leadership bandwidth across various verticals is exemplary and sets the template for start-ups making a transition from an early-stage business to a mature organisation in a capital-constrained environment. We wish them success on their continued journey to become one of the most successful consumer internet companies in the country.”

Speaking about JSW Ventures, Manish Taneja, Co-founder and CEO at Purplle said, “The partnership with JSW Ventures has been extremely fulfilling, their team has added immense value since the investment. Apart from providing capital, they have been hands-on, supporting us across various aspects of the business. We enter FY 2023-24 with a significant performance by marquee brands, strong investment trajectory, and aggressively pursuing business growth.”
 

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