Japan-based Mynavi has bought the majority stake in Awign, offering exit to Capria Ventures and other investors.”The multiple on invested capital for Awign for our India Fund II is >7x,” said Surya Mantha, Managing Partner of Capria Ventures. Capria Ventures’ portfolio includes Betterplace Solutions, Masai School, and Cuemath, among others.
Capria Ventures, a Betteplace Solutions sponsor, has announced the successful conclusion of financing for its India Opportunity Fund, which raised INR 153 crore.
This comes after Capria Ventures announced a full-cash exit from one of its portfolio firms, Awign.
The HRtech platform Mynavi Corporation, based in Japan, acquired the majority of Bengaluru-based Awign in an all-cash acquisition earlier today, the business said. The specifics of the transaction were not disclosed.
This acquisition resulted in Capria Ventures and other investors exiting completely.
Surya Mantha, Managing Partner at Capria, commented on the departure, saying, “….Mynavi’s acquisition of Awign not only opens untapped markets and opportunities for the company, but it is also a great exit for our India Fund II, where we will return more than 50% of the invested capital through this single exit.” The multiplier on invested capital for Awign for our India Fund II is greater than 7x.”
Capria closed its India Opportunity Fund for the first time early last year, raising INR 75 crore. It was previously known as the Unitus Ventures India Opportunity Fund. Later in 2023, Capria and Unitus merged to form a single brand, Capria.
Capria Ventures, through its first and second funds, has invested in early-stage firms such as Awign, BetterPlace, Cuemath, Eduvanz, and Masai. The venture capital firm specializes on fintech, HRtech, agritech, climatetech, and SaaS.
Capria maintains offices in Seattle, Bangalore, Buenos Aires, Nairobi, Jakarta, Mexico City, and Washington, DC. It controls assets worth more than $207 million.
The fourth investment vehicle, Kedaara IV, marked the final close of PE company Kedara Capital earlier this week at a whooping $1.73 billion, making it the largest PE fund.
Kedara plans to deploy the new funds in banking, healthcare, consumer, and SaaS sectors. In addition, Kedaara Capital will look for both minority holdings and complete purchase opportunities.
Another venture capital firm, Norwest Ventures, revealed last week that its 17th fund had closed at $3 billion.
NVP 17, a multi-stage fund, will invest in startups in categories such as enterprise tech, consumer, and healthcare in three key markets: India, Israel, and the United States.
