Temasek, Fidelity pump $200 million in Lenskart secondary deal at $5 billion valuation
Singapore government’s sovereign fund Temasek and US financials service major Fidelity have together invested $200 million in Lenskart through a secondary share sale, according to a statement.
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The deal has valued Lenskart at $5 billion, up from the $4.5 billion mark in its last round of funding, the company confirmed.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitET first reported on April 25 saying Fidelity was in advanced talks to join Lenskart cap table as a new investor while Temasek will double down on the company.
This is among the largest secondary share sales at a late-stage startup this year.
Last year, Lenskart raised $600 million in total from Abu Dhabi Investment Authority and ChrysCapital, amid a widespread funding winter for new economy ventures. Of this, $450 million was in secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the Gurgaon-based firm.
In a secondary share sale, money changes hands between investors and does not go to company coffers.
