This dilution of stake has put the value of Bangalore based eCommerce Flipkart to $12.5 billion (Rs 77,000 crore).
Venture Capital firms Helion Venture Partners and IDG Ventures India have sold stakes in Flipkart which has put its value at $12.5 billion (Rs 77,000 crore).
Founded in 2006, Helion Venture Partners is an early to mid-stage, India focused venture fund with over $600 million under management. So far, Helion has partnered with over fifty companies. It invests in technology and technology-powered businesses such as eCommerce, Online services, Mobility, Enterprise Software and Outsourcing.
IDG Ventures India is a leading technology venture capital fund focused on India. The fund is part of IDG Ventures, a global network of technology venture funds with over $4 billion under management with over 220 investee companies and 10 offices across Asia and North America. IDG Ventures has been an early investor in leading digital consumer companies such as Netscape, BabyCenter, Baidu, Ctrip, Sohu and Tencent.
In India, IDG Ventures has invested in leading digital consumer companies such as Flipkart, Myntra, Yatra, Brainbees (FirstCry), Valyoo (Lenskart), Vserv Digital and Ozone Media.
Flipkart, an eCommerce company established in 2007 by Sachin Bansal and Binny Bansal, is registered in Singapore with headquarters in Bangalore, Karnataka. Flipkart's last fundraising round in December had pegged its valuation at $12 billion. After raising $700 million, its number of investors exceeded 50.