Secondary transactions aid big investors report gains in Swiggy investment

A spate of secondary transactions in online delivery platform Swiggy over the last couple of financing rounds have allowed multiple investors report gains on their investments. These transactions were seen in regulatory filings by the firm accessed by business intelligence platform paper.vc.

The filings show that over the last financial year, four key institutional investors have been steadily divesting a portion of their holdings in Swiggy to incoming investors during successive high-value financing rounds. Accel, SAIF Partners, Bessemer Venture Partners and Norwest Venture Partners have each steadily reduced their holding in the food delivery platform.

Media reports had speculated on the conclusion of large secondary transactions. For instance, early investors Harmony Partners and RB Investments continue to be on the captable. Only in 2019 did Prosus (Naspers) increase its holding to 38.82%.