SBICAP Ventures-backed Neev II Fund has invested in agritech firm Nutrifresh Farm Tech, while Fidelity Investments has slashed the estimated worth of its holding in SaaS startup Gupshup.
SBICAP Ventures-backed Neev II Fund makes 5th investment
SBICAP Ventures-backed climate and sustainability-focused SME fund Neev II on Monday said it has invested in agritech firm Nutrifresh Farm Tech.
SBICAP Ventures currently manages three alternate investment funds (AIF), including Neev Fund I and Neev Fund II; and SWAMIH Investment Fund I; besides FoFs such as Self Reliant India Fund and UK India Development Cooperation Fund with a total AUM of over Rs 32,500 crore.
Having taken a significant minority position in the company, this is Neev II Fund’s fifth investment.
Nutrifresh offers direct-to-consumer services in markets such as Mumbai, Pune, Delhi, Surat, Ahmedabad, Baroda, Bangalore, and beyond.
Fidelity cuts Gupshup stake valuation by over 20% in a month
Fidelity Investments has slashed the estimated worth of its holding in SaaS startup Gupshup by over 20% in a month and by more than 50% since the original investment, TechCrunch reported on Monday.
Gupshup did not immediately respond to a request by DealStreetAsia.
In an interaction with DealStreetAsia earlier, Gupshup chief executive officer Beerud Sheth said the company will be looking to go public in the next calendar year, adding that the company is waiting for the market to be ready.
In June, Fidelity Investments cut Gupshup’s fair value by 31% as of March 31, 2023.