Exclusive: Chiratae Ventures gets $70 million via portfolio sale as VCs eye exits

In a significant development in India’s venture capital industry, Chiratae Ventures–one of the country’s oldest early-stage funds that has invested in companies such as Lenskart, FirstCry and Policybazaar–has sold stake in some of its portfolio firms to Madison India Capital, people aware of the matter said.

The transaction is expected to have given these stakes a collective valuation of about $70 million, including shares sold in high-profile companies like omni-channel eyewear retailer Lenskart, the sources said, adding that it was a bulk secondary deal.