SoftBank took home $1.8-1.9 billion from four listed portfolio companies

economictimes.indiatimes.com:

SoftBank, which of late has not been signing new startup funding deals in India and is preparing to offload stakes in IPO-bound Ola Electric and FirstCry, still holds $1.1-1.2 billion worth of shares in its listed portfolio companies here.

The Japanese investor has sold stakes worth $1.8-1.9 billion during the public offerings and through post-listing sales in four Indian startups — Paytm, Zomato, PB Fintech and Delhivery — that went public in 2021 and 2022. It had invested a total of $2.3-2.4 billion in these four new-age companies.

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SoftBank’s strategy to dilute holdings through secondary sales while staying away from new investments is in line with most growth and late-stage investors who have slowed down on investments over the last 15-18 months.

SoftBank, which has funded almost a fifth of India’s over 100 unicorns — startups with valuations exceeding $1 billion – has so far invested $15 billion in the country. Of this, $11 billion had been invested by SoftBank Vision Fund. The group invested the remaining $4 billion in sectors such as renewable energy and infrastructure.


SoftBank is the largest institutional shareholder of electric two-wheeler maker Ola Electric and retailer FirstCry. Both companies filed draft papers for their initial public offerings last month.

While Ola Electric is looking for a $7-8 billion valuation in its public offering, FirstCry is estimated to be valued at around $4 billion. At these valuations, SoftBank is expected to sell stakes worth