Accel Sells $100M Stake in Flipkart – Venture capital firm Accel Partners has retailed a small stake in Indian e-commerce firm Flipkart to sovereign wealth fund Qatar Investment Authority (QIA) for $100 million, said a report in the Economic Times citing two people aware of the deal.
The deal values India’s biggest online marketplace Flipkart at $15 billion, the report said.
Accel, the first venture investor in Flipkart is the second-largest shareholder after New York-based hedge fund Tiger Global Management after the deal, the Economic Times reported.
In a reply to email, Subrata Mitra, partner at Accel Partners in India told the newspaper, “From time to time, Accel Partners, globally, has sold a small fraction of our holdings in some of our portfolio companies, as secondary transactions.”
“All we can confirm to you right now is that no such transaction is in process.”