The Private Equity firm ChrysCapital is planning to invest in the most loved Eyewear Brand, Lenskart, with $100 million at a valuation of $4 billion. However, according to the sources, the conversation is ongoing on the deal and is yet to be finalized.
It is the biggest investment done by ChrysCapital on a new-age entity if the investment deal is finalized. This round will bring the company $500 million in ongoing funding at lenskart. However, earlier investors of lenskart, such as SoftBank Vision Fund, TR Capital, Kedaara Capital, and others, are looking for partial exits from Lenskart.
According to the sources, Alpha Wave Global may also participate in the current financial deal by purchasing additional shares. In the secondary share sale round, Lenskart shares will be transferred from the old investor to the new investors by the stock sale round, and money will not go into the company’s pocket.
Over the years, Lenskart routes the way from the secondary share sale round to give a partial exit from the company to previous investors like Chiratae Ventures and others.
Last year in December, Lenskart generated about Rs 415 crore, but around Rs 183 crore came from the Owndays, which acquired Lenskart previous year.
Which companies ChrysCapital Invested in previous years?
ChrysCapital has already invested in companies such as FirstCry, Dream11, and XpressBees.