SoftBank Group Corp., a Japanese multinational conglomerate, is reportedly in talks to close two major investments, specifically a $400 million round in eyewear retailer giant Lenskart and $150 million in news and content platform Dailyhunt.
According to reliable sources, SoftBank Vision Fund will be united by a co-investor, raising Lenskart’s value at about $1.5 billion. Moreover, the round may involve both primary and secondary sale of shares. As for Dailyhunt, SoftBank will probably lead a $250 million round along with Carlyle, a private equity company, which may invest up to $100 million, valuing the company at an estimate of $900 million.
Incidentally, the two transactions showcase SoftBank Vision Fund’s motive in backing companies that have a clear path to profitability. Experts say that the conglomerate is increasingly backing promising companies with good unit economics instead of chasing hyper-growth companies. Also, entrepreneurs are likely to partner with SoftBank as a co-investor in the financing round as they focus on expanding their investor base.
In a different context, Synergy Group Corp., a conglomerate headquartered in Brazil that owns a majority stake in Colombian carrier Avianca Holdings, has shown an interest in purchasing Indian airline company Jet Airways.
Sources claim that the conglomerate has tendered its expression of interest after the 10th August deadline and the Jet bankruptcy resolution professional will seek approval from the creditor’s committee allowing Synergy to enter the race
Reportedly, the bankruptcy resolution professional had prior gained three expressions of interest for the Indian airline, including Panama-based investor Avantulo Group, billionaire Anil Agarwal’s family trust Volcan investments and Russian fund Treasury RA Creator.
However, Avantulo wasn’t selected for the next round of bidding while Volcan withdrew its application a day later, currently making Treasury RA Creator the only selected entity.
Source Credit: https://www.vccircle.com/grapevine-softbank-to-invest-in-lenskart-dailyhunt-colombia-carrier-parent-eyes-jet