Lenskart announced last week that it has signed a definitive agreement with Abu Dhabi Investment Authority to raise $500 million amidst a market slump.
Lenskart gets $95 million from KKR at estimated $2.5 billion valuation
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Last Updated: May 17, 2021, 07:32 PM IST
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Synopsis
KKR & Co.’s Lenskart funding is part of a $250-300 million round that is likely to see participation of Falcon Edge and Singapore’s Temasek.
ETtech
Illustration: Rahul Awasthi
Bengaluru: Private equity firm KKR & Co. will invest $95 million in omnichannel eyewear retailer Lenskart. Existing investors TPG Growth and TR Capital will each divest a part of their stakes in the company as part of the secondary share sale.
In a secondary share sale, the capital does not flow into the company coffers but is used to buy stakes from existing investors.