Alternative asset management firm Steadview Capital has made a $25m secondary investment in Delhivery, the India-based logistics service provider backed by corporates SoftBank, Fosun and Bennett Coleman & Co, VCCircle reported yesterday.
Delhivery provides delivery, warehousing, freight and logistics technology services for both business and consumer-focused retailers. The news was disclosed in a statement that did not reveal the identity of any selling investors.
Delhivery had raised a total of $783m as of a $115m investment by pension manager Canada Pension Plan Investment Board in September 2019.
Telecommunications and internet group SoftBank paid an amount reported to be roughly $50m for 3.3% of the company’s shares through a secondary transaction the following month.
Sahil Barua, Delhivery’s chief executive, said: “Steadview is a long-term investor and we see them playing a key role as Delhivery heads towards the public markets in the next 12 to 15 months.”
