JAIPUR: The Rajasthan Venture Capital Fund (RVCF) has exited Mumbai-based fintech startup Mosambee with a 19 times jump in returns.
RVCF, supported by Rajasthan State Industrial Investment and Investment Corporation (RIICO) and other institutions, had invested Rs 5.25 crore in Mosambee in 2015 and 2016 in the form of equity.
Singapore-based Pine Labs recently made a major investment of $100 million in Mosambee, a comprehensive digital payment solution company.
After the whopping investment by Pine Labs, a leading merchant commerce platform, RVCF exited the company completely with a gross exit receipt of Rs 101 crore against an investment of Rs 5.25 crore.
RVCF Chairperson and RIICO MD Archana Singh said that the exit with such a high return will give a lot of confidence to investors in this asset class.
“The exit will pave the way for RVCF’s new fund,” she said.
RVCF CEO Suneet Mathur said that the Mosambee investment was about backing the experience and talent of the founders and the vision.
He said that it was the highest return RVCF has got from investment in startups.
RVCF currently has three funds under management and has investments in 44 portfolio companies with a special focus on Rajasthan and other low-income states focusing on investments with the objective of creating impact with returns.
The impact is measured on different parameters like job creation and financial inclusion.
RVCF, supported by Rajasthan State Industrial Investment and Investment Corporation (RIICO) and other institutions, had invested Rs 5.25 crore in Mosambee in 2015 and 2016 in the form of equity.
Singapore-based Pine Labs recently made a major investment of $100 million in Mosambee, a comprehensive digital payment solution company.
After the whopping investment by Pine Labs, a leading merchant commerce platform, RVCF exited the company completely with a gross exit receipt of Rs 101 crore against an investment of Rs 5.25 crore.
RVCF Chairperson and RIICO MD Archana Singh said that the exit with such a high return will give a lot of confidence to investors in this asset class.
“The exit will pave the way for RVCF’s new fund,” she said.
RVCF CEO Suneet Mathur said that the Mosambee investment was about backing the experience and talent of the founders and the vision.
He said that it was the highest return RVCF has got from investment in startups.
RVCF currently has three funds under management and has investments in 44 portfolio companies with a special focus on Rajasthan and other low-income states focusing on investments with the objective of creating impact with returns.
The impact is measured on different parameters like job creation and financial inclusion.
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