Mamaearth backers Kunal Bahl, Rohit Bansal to redeploy investment gains to support next-gen startups
Titan Capital’s founders Kunal Bahl and Rohit Bansal, who were among the earliest backers of skincare brand Mamaearth, will reinvest their entire gains from the investment in the company into startups. They had first invested in Mamaearth back in 2017 in the company’s seed funding round.
“The success of a start-up is not only in what it builds but also in what it helps build. At @TitanCapitalVC, Rohit and I are committing 100% of our gains from our Mamaearth investment to support the next generation of founders building startups in India,” Bahl wrote in a post on microblogging platform X (formerly Twitter).
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Bahl told ET that this would include «all proceeds from Mamaearth stake sale in the IPO as well as the remaining stake».
Bansal said that the duo will be reinvesting the gains through Titan Capital, which has backed startups including Razorpay, Shadowfax, OfBusiness and Urban Company.
The Snapdeal founders, through the initial public offering (IPO) of Mamaearth parent Honasa Consumer, together raised around Rs 78 crore. They still own stakes worth around Rs 80 crore in the Gurugram-based omnichannel retailer. Cumulatively, they had invested Rs 2.4 crore in the company.
At the issue price of Rs 324 per share, Bahl and Bansal saw a return multiple of over 100 times on the per share weighted average acquisition cost of Rs 3.21 per share.
According to information sourced from Tracxn, they have previously sold stakes in the company worth Rs 78.6
