Hong Kong-based Steadview Capital plans to invest $500 million in India

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Steadview Capital, a Hong Kong-based hedge fund, is, reportedly, planning to invest $500 million in growth-stage companies in India over the next two years.

According to a report, Steadview could invest up to $100 million in a single firm if the company’s financial metrics justify heavy capital.

The fund is also reportedly planning to increase focus on India by increasing its headcount here and is looking to hire one more person in India.

Steadview Capital was founded in 2009 and is currently led by Ravi Mehta. It has nearly $2.5 billion assets under management. The firm was on a silence period for the last few years in India after its entry in 2014. The firm’s first investment was furniture rental Urban Ladder.

Till November 2015, Steadview Capital invested millions across companies such as ecommerce player Flipkart, cab hailing player Ola, online insurance aggregator PolicyBazaar, music streaming platform Saavn and classified platform Quikr among others.

Since then a lull between November 2015 to August 2018, came to an end with a secondary investment in Lenskart along with TR Capital.

In the secondary transaction, TPG Growth, Ronnie Screwvala-led Unilazer Ventures, and IDG Ventures India were the sellers.

A total investment inflow of $1.4 Bn at growth stage recorded a historical high in its quarterly funding amount, based on data recorded since 2014.

In the case of the growth stage startups, the funding amount of $1.4 Bn recorded in the first quarter of 2019 is 68% higher than the $821 Mn recorded in Q4 2018.

From a Y-o-Y perspective, that figure is a massive 141% increase from the $574 Mn recorded in Q1 2018.

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