Chiratae Ventures secures $70M in major secondary stake sales

Chiratae Ventures has completed a major secondary sale of its stakes in multiple portfolio companies. The deal, valued at around $70 million, was managed by Madison India Capital with backing from Lexington Partners. This move highlights the growing trend of secondary transactions as an exit route for investors. The transaction covers stakes from two of Chiratae’s funds. Fund-II contributed $95 million worth of shares, while Fund-III added $208 million. The sale is part of the firm’s strategy to offload holdings in select companies for profitable exits.

Chiratae has previously used secondary deals to cash out of investments. In one notable case, the firm exited Lenskart, securing over $100 million in a $500-million secondary round led by the Abu Dhabi Investment Authority. Other companies in this latest divestment include Bizongo and Rentomojo.

Secondary sales have become more common among Indian venture capitalists. Many face pressure to show returns, and slow exits have made investors more cautious. These transactions allow them to realise partial exits while retaining some exposure to growing businesses. The $70-million deal reinforces Chiratae’s approach to secondary markets for liquidity. By selling stakes in companies like Lenskart, Bizongo, and Rentomojo, the firm continues to unlock value from its portfolio. This trend reflects broader shifts in how Indian investors manage exits and returns.