Avendus Capital advises Valyoo Technologies on its Series C fund raise led by TPG Growth.

Service

Private Equity

Sector

Digital & Technology

Date

January 2014

Deal Value

Undisclosed

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Valyoo Technologies Pvt. Ltd. (known as Lenskart.com) has raised Series C investment round led by TPG Growth along with participation from IDG Ventures and TR Capital. Lenskart.com will use the funds to enhance its technology platform and expand its offline footprint. This is TPG’s first investment in the digital space in India.

Lenskart.com is the largest online eyewear portal in India; it has revolutionized the eyewear industry by leveraging its industry leading technology, stringent quality focus and wide assortment of contemporary choices to provide consumers with premium experience.

Avendus Capital was the exclusive financial advisor to this transaction.

Aashish Bhinde, Executive Director and Head – Digital & Technology, Avendus Capital, said “Lenskart.com is leveraging its unique omni-channel business model to disrupt the eyewear market in India. The current investment round will help the company develop the market further and position it to becoming the country’s leading eyewear retailer in the next 3-4 years.”

Avendus is a leading advisor in the Digital & Technology sector and has advised on 30+ deals in the past 5 years. Last year the firm has concluded 28 deals across various industries and was amongst the top three financial advisors by overall number of deals in India (as per Bloomberg for CY 2014).

About TPG Growth

TPG Growth, part of the global investment firm TPG Capital, invests in a broad range of industries including consumer, retail, technology, internet, healthcare, energy, transportation, industrials and business services. TPG Growth has about $4 billion under management, has a global presence, with offices in 8 cities and has an extended global reach through TPG offices in London, Paris, Luxembourg, Moscow, Tokyo, Sao Paulo, and Melbourne.

For more information, please visit www.tpggrowth.com 

About Valyoo Technologies

Valyoo Technologies, founded in 2010, operates Lenskart.com – India’s largest online eyewear portal. Lenskart has revolutionized the eyewear industry in India by leveraging its industry leading technology, stringent quality focus and wide assortment of contemporary choices to provide consumers with premium experience. Lenskart.com is redefining the way eyewear is purchased in India through its innovative solutions like home eye check-up programme, try-before-you-buy, virtual studio, doctor partnerships and market leading customer service. Lenskart.com also operates branded stores in over 20 cities and owns the John Jacobs and Vincent Chase brands.

For more information, please visit www.lenskart.com 

About Avendus Capital Pvt. Ltd.

Avendus Capital is a leading financial services firm which provides customized solutions in the areas of financial advisory, equity capital markets, alternative asset management and wealth management. The firm relies on its extensive track record, in-depth domain understanding and knowledge of the economic and regulatory environment, to offer research based solutions to its clients that include institutional investors, corporations and high net worth individuals/families. In recent years, Avendus Capital has consistently been ranked among the leading corporate finance advisors in India and has emerged as the advisor of choice for cross-border M&A deals, having closed around 40 cross-border transactions in the past 5 years. Avendus PE Investment Advisors manages funds raised from its investors by investing in public markets, while Avendus Wealth Management caters to investment advisory and portfolio management needs of Family offices and Ultra High Networth Individuals / families, spanning all asset classes. Headquartered in Mumbai, the firm has offices in New Delhi and Bangalore.

Avendus Capital, Inc (US) and Avendus Capital (UK) Pvt. Ltd. located in New York and London respectively are wholly owned subsidiaries offering M&A and Private Equity syndication services to clients in the respective regions. Avendus Capital, Inc. (US) also provides wealth management services to clients in select jurisdictions in USA.

For more information, please visit www.avendus.com 

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