Zodius Capital raises stake in Zivame upto 45% : Kalaari and IDG exit
Zodius capital, a tech-oriented investment firm has elevated its stake in Zivame, which is a lingerie retailer by purchasing shares of the early backers of the lingerie startup named Kalaari Capital and IDG Ventures that invested in Zivame in early 2012.
According to the reports, the funding agency now controls almost 45% in Zivame. It now has three of the six board seats in Zivame though it has not filled any of the two additional seats. However, the valuation of the stakes sold by Kalaari and IDG Ventures could not be determined.
When Zivame last raised capital in September 2015, from Malaysian sovereign wealth fund Khazanah and Zodius Capital, it was valued at over $100 million. Other shareholders in the company so far are Unilazer Ventures, IDG Ventures India, Kalaari Capital, Ra...