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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Accel Partners sells fractional stake in Flipkart to Qatar Investment Authority for $100 million

Posted on 21 December 2015

Accel Partners has sold a fractional stake in Flipkart to Qatar Investment Authority for $100 million (about Rs 650 crore), in a deal that values India’s biggest online marketplace at $15 billion, according to two people aware of the transaction. Accel, the first venture investor in Flipkart, remains the second-largest shareholder in the ecommerce company behind New York-based hedge fund Tiger Global Management.
The venture firm’s latest transaction is its most significant involving Flipkart since selling the ecommerce company’s shares worth more than $80 million to undisclosed buyers last year. “The (Accel-QIA) deal closed in November,” one person said. “Given that valuation numbers are expected to stabilise, this is the right time to book returns.” Both the sources declined to be identified………………………………………..Full Article: Source


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