Chinese investor Shunwei Capital exits parent company of Koo

Chinese Venture Capital firm Shunwei Capital has exited Bombinate Technologies, the parent company of Koo, after existing investors and a clutch of prominent individuals bought out its minority stake, the company said on Wednesday.

Prominent Indians including Former Indian Cricketer Javagal Srinath, BookMyShow Founder Ashish Hemrajani, Udaan Co-Founder Sujeet Kumar, Flipkart Chief Executive Officer Kalyan Krishnamurthy and Zerodha Founder Nikhil Kamath participated in the round to buy out shares of Shunwei Capital.

Shunwei Capital had held a little over 9 per cent in Bombinate Technologies.

“Existing investors along with a bunch of individuals have bought out Shunwei Capital’s minority stake in Bombinate Technologies, the parent company of Vokal and Koo,” the statement said but did not divulge financial details of the transaction.