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SoftBank in talks to invest $150M in Dailyhunt and $400M in Lenskart

Author : Shikha Sinha | Published Date : 2019-08-27 
  • SoftBank is expected to lead a $250 million round with private equity major Carlyle for Dailyhunt
     
  • South American conglomerate Synergy Group also hopes to invest in India’s Jet Airways.

SoftBank Group Corp., a Japanese multinational conglomerate, is reportedly in talks to close two major investments, specifically a $400 million round in eyewear retailer giant Lenskart and $150 million in news and content platform Dailyhunt.

According to reliable sources, SoftBank Vision Fund will be united by a co-investor, raising Lenskart’s value at about $1.5 billion. Moreover, the round may involve both primary and secondary sale of shares. As for Dailyhunt, SoftBank will probably lead a $250 million round along with Carlyle, a private equity company, which may invest up to $100 million, valuing the company at an estimate of $900 million.

Incidentally, the two transactions showcase SoftBank Vision Fund’s motive in backing companies that have a clear path to profitability. Experts say that the conglomerate is increasingly backing promising companies with good unit economics instead of chasing hyper-growth companies. Also, entrepreneurs are likely to partner with SoftBank as a co-investor in the financing round as they focus on expanding their investor base.

In a different context, Synergy Group Corp., a conglomerate headquartered in Brazil that owns a majority stake in Colombian carrier Avianca Holdings, has shown an interest in purchasing Indian airline company Jet Airways.

Sources claim that the conglomerate has tendered its expression of interest after the 10th August deadline and the Jet bankruptcy resolution professional will seek approval from the creditor’s committee allowing Synergy to enter the race

Reportedly, the bankruptcy resolution professional had prior gained three expressions of interest for the Indian airline, including Panama-based investor Avantulo Group, billionaire Anil Agarwal’s family trust Volcan investments and Russian fund Treasury RA Creator.

However, Avantulo wasn’t selected for the next round of bidding while Volcan withdrew its application a day later, currently making Treasury RA Creator the only selected entity.

Source Credit: https://www.vccircle.com/grapevine-softbank-to-invest-in-lenskart-dailyhunt-colombia-carrier-parent-eyes-jet

About Author

Shikha Sinha

Shikha Sinha

Shikha Sinha currently pens down content for fractovia.org, a news platform which provides the latest business highlights and industry trends. Shikha also is a contributor on various other online media websites where she writes informative, research-oriented content spanning the retail, healthcare, F&B, and technology sectors. As her first stint in writing, Shikha was an active contributor on Yahoo Voices where she penned down creative and imaginative pieces. She holds a Bachelor of Technology degree in Electrical and Electronics Engineering. She can be contacted at- [email protected] | https://twitter.com/shikhas999

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