Venture Highway sells 1.5% stake in Meesho - Times of India
Summary
NEW DELHI: Seed fund Venture Highway has sold 1.5 per cent of its stake in e-commerce firm Meesho at an estimated valuation of about USD 3.5 billion, making a stellar 50-times return. Venture Highways in a statement said that it recently concluded a secondary sale of its part stake in Meesho to WestBridge Capital. VH did not comment on the amount raised or enterprise valuation at which the sale was conducted.Venture Highway invested during the seed stage in Meesho and remains an investor in the Softbank-backed e-commerce firm.The firm did not disclose further details of the transaction. We have closely witnessed how the company disrupted and transformed Indias online e-commerce landscape with its unparalleled vision. We continue to remain excited for the companys success," Venture Highway, Founding Partner,Neeraj Arora said.Venture Highway, an early and long-term backer of Meesho, invested in the companys first seed round over eight years ago.The firm continued to invest in Meesho in subsequent rounds.