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BRIEF-Softbank vision fund invests in India's Flipkart
August 10, 2017 / 8:28 AM / a month ago

BRIEF-Softbank vision fund invests in India's Flipkart

Aug 10 (Reuters) - Flipkart says:

* Softbank vision fund invests in Flipkart

* To become one of the largest shareholders of the company

* After this financing round Flipkart will have in excess of $4 billion of cash on balance sheet

* This is biggest ever private investment in Indian technology company Source text for Eikon: [Flipkart Group, India’s leading e-commerce marketplace, has announced an investment - a mix of primary and secondary capital - from SoftBank Vision Fund, the world’s largest technology-focused investment fund. This is the biggest ever private investment in an Indian technology company, and will make the Vision Fund one of the largest shareholders in Flipkart. The investment is part of the previously announced financing round, where Flipkart had raised capital from three of the world’s premier technology companies - Tencent, eBay and Microsoft. After this financing round, Flipkart will have in excess of $4 billion of cash on balance sheet] (Mumbai newsroom)

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