Deal Talk: Zivame may raise $50 mn from private equity funds; Tiger Global in talks to buy KredX stake

TechCircle brings you a round-up of technology investments and M&A deals reported from across newsrooms.

Zivame

Lingerie etailer Zivame is in talks with private equity (PE) funds to raise about $50 million. The proposed deal is expected to value the company at $200 million, the Economic Times reports.

The Bengaluru-based company plans to use the funds to expand its number of stores from 35 to 60 by FY20, the report said.

The firm is backed by several investment firms including Zodius Capital, private equity and venture capital firm Unilazer Ventures and Malaysia-based sovereign wealth fund Khazanah Nasional Bhd. Investment management company Avendus Capital advises Zivame on the fund-raising, the report added.

Ronnie Screwvala-promoted Unilazer Ventures and Khazanah Nasional Bhd will sell part of their stake to the new investor, who will also make primary capital infusion into the lingerie retailer, the report revealed.

Last week, it had raised $2.7 million from existing investors Zodius Capital and Avendus Capital.

KredX

US-based hedge fund Tiger Global Management is in talks to acquire a minority stake in Sequoia Capital-backed invoice discounting platform KredX, reports Mint.

If the deal goes through, the hedge fund may invest $20 million in the Bengaluru-based firm, the report said.

KredX, founded in 2015 by Manish Kumar and Anurag Jain, is an online invoice discounting platform where business owners can raise funds for their working capital needs.

In 2016, it had raised $6.25 million in its Series A round led by Sequoia India. Its existing investor Prime Venture Partners also participated in the round.