India, Nov. 13 -- Peak XV Partners raked in one of its biggest public market windfalls this year through its partial exit from Pine Labs. The venture capital (VC) firm offloaded a little over 2.3 Cr shares via its investment vehicle, Peak XV Partners Pine Investment Holdings, amounting to INR 508 Cr as part of the OFS component of the fintech major's IPO.
The sale will fetch the VC firm a 39.5X return on its initial bet on the company. Besides, the investor is also selling a small portion of its stake through another vehicle, Peak XV Partners Investments IV, which will generate around INR 6 Cr, translating to a 1.4X return.
The firm has been among the most active sellers in Indian tech IPOs this year, recording strong returns from partial...