Private equity firms pump $315 million into largest online store for newborn: Firstcry
Firstcry, which is backed by SoftBank, will reportedly aim to make a stock market debut in 18-24 months. Three private equity (PE) investors have pumped in around $315 million into children's retailer Firstcry, in a deal that values the company at around $1.9-$2.1 billion.
Private equity firms pump $315 million into largest online store for newborn: Firstcry
Firstcry, which is backed by SoftBank, will reportedly aim to make a stock market debut in 18-24 months. Three private equity (PE) investors have pumped in around $315 million into children's retailer Firstcry, in a deal that values the company at around $1.9-$2.1 billion.
The PE firms - TPG, ChrysCapital and Premji Invest - invested around $100 million each into Firstcry, according to a report.
The deal comprises a $300 million secondary transaction and a primary component of around $13 million from Premji Invest, the report added, citing a regulatory filing.
The company's list of investors includes Mahindra Group, Valiant Capital, former Tata Sons chairman Ratan Tata and Kris Gopalakrishnan, the chairman of Axilor Ventures.
"This round helps the company consolidate its investor base ahead of the IPO that it plans over the next 18-24 months," according to sources. In January 2019, SoftBank Vision Fund had invested $400 million in Firstcry for a 40 percent stake, valuing the company at $1.1 billion.
