Acko finalising $120 million secondary share sale; Enam, Mithun Sacheti, Madhu Kela likely to come on board
Acko General Insurance is closing a $100-120-million secondary deal that will see some of its earliest backers including Infosys founder Narayana Murthy's venture capital firm Catamaran Ventures and private equity fund Chrys Capital’s founder Ashish Dhawan selling stakes in the new-age insurer.
Incoming investors include Enam group’s family office led by Akash Bhanshali, CaratLane founder Mithun Sacheti, Arpwood Capital and public market veteran Madhusudan Kela of MK Ventures, people familiar with the development told ET.
Existing shareholder private equity major General Atlantic will also shore up its position by acquiring additional stake, one of the persons said.
Acko, which was valued at $1.4 billion post its last funding round, is executing the secondary sale at around 5-10% discount, these people said on condition of anonymity as the talks are private.
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