TVS Capital Funds Ltd, the private equity and venture capital arm of TVS Group, is set to acquire minority stake in online beauty portal Nykaa run by FSN E-Commerce Ventures Pvt Ltd. The PE firm will also participate in the R60 Cr Series C fund raising round of the company. Founded husband-wife duo, former MD of Kotak Mahindra Capital, Falguni Nayar and KKRIndia CEO, Sanjay Nayar, Nykaa serves as a beauty and wellness ecommerce platform selling branded products across wide categories of makeup, skincare, hair care, fragrances, bath and body and luxury products for women and men. It claims to offer about 300 brands and more than 15000 products under various category. Previously, it had raised about R20 Cr from several investors by selling about 20% stake. Deals in space: Purplle.com (Purplle Wares Pvt Ltd), Nykaa’s major competitor also raised an undisclosed amount of funding from Mumbai based IvyCap Ventures. Chennai based beauty and wellness company Syona Cosmetics, had raised an undisclosed amount of funding from Chennai Angels.
Source:TVS Capital To Acquire Stake In Nykaa.com by Ahemad Shaikh
Industry: 2015-11-24
