1947 Rise ☀️: 342
VSS, SaaS, Winter & more!
1. Vijay Shekhar Sharma goes all in, is now the largest shareholder in Paytm
An overseas entity owned by Sharma will acquire 10.3 percent stake in Paytm from Antfin through an off-market transfer.
On closing of this transaction, Sharma’s shareholding in Paytm will increase to 19.42 percent, whereas Antfin’s shareholding will reduce to 13.5 percent.
2. Late-stage investors wait it out as startups struggle to grow into their valuations
Late-stage investors in India have avoided most deals this year as they are still grappling with the aftermath of the bubbly and exuberant Indian startup party, which resulted in inflated valuations.
SoftBank, Alpha Wave Global, Insight Partners, DST Global, Sofina, and Epiq Capital, among other late-stage venture capital investors, who were very actively investing in the pandemic years between March 2020 and March 2022, have cut very few cheques since then, data compiled by Moneycontrol showed.
In fact, these investors have not participated in a single deal in 2023 yet. These investors were behind a majority of growth and late-stage deals between 2020 and 2022.
Worth your attention:
No new SaaS unicorns so far in 2023 as funding winter lingers, says Bessemer report Link
Japan’s Mixi debuts $50 million fund to back India’s early-stage entertainment startups Link
Zomato posts surprise profit of Rs 2 crore in Q1, revenue rises 71% to Rs 2,416 crore Link
Disprz raises $30 million in funding led by Lumos Capital, 360 One Asset Link
Stable Money raises $5 million in seed funding led by Matrix Partners India and Lightspeed Link