Draper Fisher Jurvetson sells nearly entire India portfolio to NewQuest Capital Partners
Tuesday, May 03, 2016
(ETtech by Madhav Chanchani) – Experts said such secondary sales are bound to increase as venture capital and private equity firms approaching ends of their typical 7-10-year investment cycles scramble to sell holdings.
Draper Fisher Jurvetson (DFJ), an investor in Elon Musk's electric-car company Tesla and spacecraft maker SpaceX, has sold nearly its entire India portfolio to NewQuest Capital Partners, inching closer to ending a three-year hunt for buyers.
The venture capital firm sold its holdings in 8-10 domestic companies to Hong Kong-based NewQuest at discounted valuations, four people aware of the transaction said, with one of them adding that such deals are typically done at "cents on the dollar" Deal terms could not be ascertained.
