Lenskart plans to raise $100M from ChrysCapital
If finalised, the Lenskart funding would be among the largest investments of ChrysCapital in a new-age entity.
Private equity firm ChrysCapital is eyeing an investment of $100 million (Rs 828 crore) in omnichannel eyewear retailer , at a valuation of $4 billion.
The talks on the investment deal are ongoing and the deal is yet to be finalised, as reported by The Economic Times.
The report added that, if finalised, this would be among the largest investments of ChrysCapital in a new-age entity.
The new funding will bring the total ongoing funding round at Lenskart to around $500 million, with early investors such as Kedaara Capital, SoftBank Vision Fund, TR Capital, and others looking at partial exits.
Alpha Wave Global, formerly Falcon Edge, may also participate in the current financing by purchasing additional shares, according to the source.
In the secondary share sale round, stocks will change hands from existing to new investors, and the money won't go into the company’s coffers.
Over the last few years, the omnichannel eyewear retailer has routed secondary share sales to pave the way for partial exits to investors like Chiratae Ventures and others.
According to the source, Lenskart generated about Rs 415 crore in sales in December, of which Rs 183 crore came from Owndays, which it acquired last year.
ChrysCapital has previously invested in internet companies such as FirstCry, Dream11, and XpressBees.
Edited by Teja Lele