Avendus Capital advises Lenskart and its selling shareholders on its USD 200 million secondary investment

Overview

Lenskart has raised USD 200 million in secondary investment from Temasek and Fidelity Management & Research Company (FMR). This investment marks Temasek doubling down on its existing investment in Lenskart, while Fidelity Management & Research Company (FMR) joins the cap table. Following this transaction, Lenskart has attracted close to USD 1 billion in capital over the last 18 months, making it one of the largest growth-stage financings globally.

Avendus Capital was the exclusive financial advisor to Lenskart and its selling shareholders on this transaction.

Deal Value

USD 200 mn

Service

Private Equity

Sector

Digital, Technology & Consumer

Date

Jun 2024

We are delighted to once again partner with Peyush and the Lenskart team. Lenskart has built one of the most defensible businesses with an omnichannel experience, deep backward integration, and a steadfast commitment to customer satisfaction. This investment by renowned global investors underscores the uniqueness of Lenskart’s disruptive model and highlights the excitement surrounding one of the most anticipated IPOs in India in the coming years. We are excited about what lies ahead for Lenskart & Peyush. In our view, more late-stage tech companies will continue to garner strong investor interest demonstrating the robustness and excitement of the Indian consumer tech landscape.

Neeraj Shrimali

Managing Director & Co-head, Digital, Technology & Consumer Investment Banking, Avendus Capital

About Lenskart

Lenskart, the largest eyewear retailer in Asia, continues to deepen its penetration in India while rapidly scaling its international presence in Asia including in Southeast Asia & Middle East. With a unique click and mortar business, it is revolutionizing the eyewear industry by offering a seamless truly omni-channel customer experience spanning across online, mobile application and stores. The company now has 2,500+ stores of which ~2,000 are in India. Lenskart continues to deliver strong growth and consistent profitability.