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An LP (an individual or an entity) is the money behind a VC or private equity fund. In the past 12-18 months, allegations of governance lapses or financial irregularities have surfaced at startups such as BharatPe, Trell, Zilingo, Mojocare, Phablecare and 4B Networks. Prompted by these reported instances of mismanagement and lack of oversight, LPs are driving changes in their relationships with VCs who recommend and manage their investment funds. ....
On July 5, ET had first reported that while a few investors considered the option of a fire sale, the majority were in favour of shutting down Mojocare and returning the remaining capital to the investors. ....
The board of troubled health and wellness products startup Mojocare has taken a call to return the remaining capital to investors. Details of this and more in todays ETtech Morning Dispatch. ....
This weeks ETtech newsbreak on PharmEasy going for a rights issue at a price 90% lower than its peak valuation of $5.6 billion to repay debt has tripped alarm bells in several startups that have taken debt financing. ....