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ADIA Nears Deal to Acquire Stake in Indian Eyewear Start-Up Lenskart

 
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Abu Dhabi Investment Authority close to acquiring stake in Lenskart for $500 million.

A group of people in suits standing together in a conference room discussing an investment deal.

Abu Dhabi Investment Authority (ADIA) is nearing a deal to acquire a stake in Indian eyewear startup Lenskart Solutions Pvt. for about $500 million. ADIA is reportedly close to finalising a deal to purchase a near 10% stake in the eyewear company. This news comes after ADIA invested $350 million in Lenskart in January 2021.

This move could be seen as an attempt by ADIA to expand their investments in the growing Indian market. ADIA is one of the world's biggest sovereign wealth funds, and the Middle East's giant pools of state capital spent tens of billions of dollars last year in the Indian market.

ADIA is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, who is also the UAE national security adviser and head of a top bank in the region. The deal, when finalized, will be a major boost to the Indian eyewear market and a sign of ADIA's confidence in the country's economy.

Lenskart Solutions Pvt. is an online eyewear company founded by Peyush Bansal in 2010. The company is one of the leading online eyewear retailers in India, and has been growing steadily over the past decade. The company has raised significant capital from venture capital firms, including Kedaara Capital and TPG Capital.

The latest investment from ADIA will give Lenskart Solutions Pvt. a major boost to push its expansion plans in the Indian market. The company has already established a presence in the Middle East, with a retail store in the UAE, and the new capital from ADIA will help it expand further.

The news of ADIA's move to acquire a stake in Lenskart will be welcomed by the eyewear industry in India. The industry is facing a difficult time due to the pandemic, and the investment from ADIA will provide much-needed relief.

The move by ADIA is also likely to have a positive impact on other Indian eyewear companies, as it will encourage investors to look at the industry more favorably. This could lead to more capital flowing into the sector, leading to further growth.

The deal between ADIA and Lenskart is expected to be finalized soon and will be a major milestone for the Indian eyewear industry. It will also be seen as a sign of ADIA's confidence in the Indian market and its potential for growth.

Labels:
abu dhabi investment authority (adia)lenskart solutions pvt.indian eyewear start-upinvestmentmiddle eastsovereign wealth fundsheikh tahnoonkedaara capitaltpg capital

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