Nikhil Vora, founder of investment firm Sixth Sense Ventures, has sold his entire stake of One97 Communications to Alibaba. The investment which Nikhil had made 6 years ago, has got him 75 times returns and amounts to around ₹150 crores. Vora had bought 0.35% of stake, which were 1,60,000 shares of Paytm‘s parent company, One97 communications. He still owns a decent stake in Paytm eCommerce, the entity which emerged from Paytm recently.
The process of sale of stake in Paytm has seen secondary investors selling their stock to Alibaba and Alipay. Along with Nikhil Vora, investors like Reliance Capital, Saama Capital and Sapphire Ventures also sold their stake. The acquisition of stakes from secondary investors has increased the total share of Alibaba and Alipay to 45%, up from 41% earlier.
This completed secondary sale values Paytm at approx ₹43,400 crores ($7 billion). Paytm is in talks with Japan’s SoftBank to raise around ₹10,000 crores ($1.5 billion) at a valuation of over ₹50,000 crores.
Post his exit from Paytm, Nikhil Vora is now planning to launch a second venture fund along with a public-markets fund. He did not disclose the amount of the upcoming venture fund, however, his pubic fund will be worth ₹250 crores.
Some of the notable names in the list of investments made in personal capacity of Nikhil include pre-school chain named as Kangaroo kids, Vini Cosmetics (consumer goods company which sells Fogg deodorants) and Purplle.