Peak XV Partners, formerly known as Sequoia Capital India and Southeast Asia, has reportedly achieved an outstanding return of 10 times or more in the oversubscribed initial public offering (IPO) of Mamaearth, the popular direct-to-consumer (D2C) skincare brand. This remarkable success marks another milestone for Peak XV Partners, following its separation from Sequoia.
Mamaearth is set to make its stock market debut on November 10, with shares listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The skincare brand’s IPO is generating significant anticipation.
In an interesting twist, the investment firm Mamaearth posted a Rs 151 crore loss in the fiscal year 2023. Nevertheless, Honasa Consumer Pvt Ltd, the parent company of Mamaearth, is expected to raise a substantial amount of Rs 10,500 crore through its IPO, as per reports.
Peak XV Partners’ achievements aren’t limited to Mamaearth. The report reveals that the investment firm has also successfully divested its remaining shares in Zomato, effectively concluding a journey that began over a decade ago with the food delivery startup. This exit reflects a remarkable 10x-plus return for Peak XV.
Furthermore, the report highlights Peak XV’s impressive return on investment with edtech startup K12 Techno Services. The firm initially backed K12 Techno Services around a decade ago and has since reaped a substantial return exceeding 12 times the investment.
While Peak XV Partners declined to comment on the report, these extraordinary returns serve as a testament to the firm’s prowess. With a capital pool of $2.5 billion, Peak XV oversees a significantly larger capital volume than any other venture capital firm with a focus on India and Southeast Asia.
Over the years, the fund has made more than 400 investments, fostering a portfolio that includes over 50 unicorn companies. These latest achievements solidify Peak XV’s position as a major player in the venture capital landscape.
