Early Bhavish Aggarwal backer Z47 fully exits Ola Electric with 7-10X returns

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Z47, formerly Matrix Partners India and one of the most prominent backers of Bhavish Aggarwal’s ventures, has fully exited its position in his electric two-wheeler maker Ola Electric, according to people aware of the matter.

The venture capital investor, which was also an early backer of ANI Technologies (under which Ola Electric and the entity that runs the Ola Cabs business was housed initially), has been selling the EV company’s shares in open market transactions, bringing its stake down gradually. One of the persons cited above said the VC…



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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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Early Bhavish Aggarwal backer Z47 fully exits Ola Electric with 7-10X returns



Z47, formerly Matrix Partners India and one of the most prominent backers of Bhavish Aggarwal’s ventures, has fully exited its position in his electric two-wheeler maker Ola Electric, according to people aware of the matter.

The venture capital investor, which was also an early backer of ANI Technologies (under which Ola Electric and the entity that runs the Ola Cabs business was housed initially), has been selling the EV company’s shares in open market transactions, bringing its stake down gradually. One of the persons cited above said the VC…



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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