New Delhi: JSW Ventures on Monday said it has sold its shareholding through Fund I in e-commerce firm Purplle to Manipal Group. The company will continue its investment in Purplle through the second fund, JSW Ventures said in a statement. Sachin Tagra, Managing Partner at JSW Ventures, said: “Purplle was one of our earliest investments as a fund in 2016 and it has delivered a 57 per cent IRR (internal rate of return).
With this exit, we have returned 2.7 times the corpus of the first fund. We continue to stay invested in Purplle from our second fund.” In May 2023, JSW Ventures sold a part of its holding in Fund I in Purplle to the Abu Dhabi Investment Authority (ADIA). The company did not disclose any financial details of the transaction. According to industry sources, the first fund of JSW Ventures is estimated to be around Rs 100 crore.
