ChrysCapital to invest $100m in India’s Lenskart

Jun 21, 2024 | News

Private equity firm ChrysCapital is set to invest $100 million in Indian eyewear brand Lenskart. The latest investment, which will be via primary and secondary share purchases, brings Lenskart’s total capital infusion to nearly $850m in the last 12 months.
Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) was in advanced talks in December to invest $350 million to $400 million in the company, valuing the eyewear retailer at $4.5 billion.
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Started in 2010, Lenskart’s investors include U.S. private equity firm KKR & Co Inc, Japan’s SoftBank Group and Singapore state investor Temasek Holdings.
Lenskart, which also operates in the United States, Singapore and UAE, had acquired a majority stake in Japanese eyewear brand Owndays last year, turning the Indian company into one of Asia’s largest online retailers in its segment.
“With the acquisition of Owndays, there is an opportunity for Lenskart to expand across 10+ Asian countries in addition to the already large Indian market,” said Rajiv Batra, senior vice president of ChrysCapital Advisors.

 

Source: Reuters

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