In a significant development, JSW Ventures has divested its stake in Purplle to Manipal Education & Medical Group Family Office (MEMG). This transaction marks JSW Ventures’ complete exit from its investment in Purplle from Fund I and results in a remarkable 2.7x return of the fund size to its investors. JSW Ventures Fund I continues to maintain its standing as a top-quartile performer in terms of Internal Rate of Return (IRR) and Distributed to Paid-in Capital (DPI) when compared to funds of a similar vintage.
Dr. Ranjan Pai, Chairman of the Manipal Group, expressed enthusiasm about joining Purplle’s journey, acknowledging the transformative digital ecosystem created by the Purplle team in reshaping how Indian consumers discover and engage with beauty products. Founded in 2012, Purplle.com is an online beauty retailer featuring an extensive selection of over 1,000 brands and nearly 50,000 products.
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“We welcome Dr Ranjan Pai to Purplle and are pleased to provide a great exit to JSW Ventures Fund 1. As we build Purplle into a remarkable data and technology-led beauty company, we are excited about the value-add that Dr Pai can add. We are grateful to the JSW Ventures team for all the support extended to us since 2016,” stated Manish Taneja, Co-founder and CEO at Purplle.
