General Atlantic increases stake in PhonePe to 9% with $600 Mn secondary

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General Atlantic has invested about $600 million in PhonePe through a secondary transaction, according to two people aware of the matter. The deal appears to be one of the largest secondary transactions in India’s startup ecosystem this year.

“The transaction was executed to help employees exercise their ESOPs and meet tax obligations related to the same,” said one of the sources, requesting anonymity. “No liquidity was provided to any employees or founders as part of this deal.”

PhonePe’s last equity round concluded in May 2023, when…



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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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General Atlantic increases stake in PhonePe to 9% with $600 Mn secondary


General Atlantic has invested about $600 million in PhonePe through a secondary transaction, according to two people aware of the matter. The deal appears to be one of the largest secondary transactions in India’s startup ecosystem this year.

“The transaction was executed to help employees exercise their ESOPs and meet tax obligations related to the same,” said one of the sources, requesting anonymity. “No liquidity was provided to any employees or founders as part of this deal.”

PhonePe’s last equity round concluded in May 2023, when…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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