Ashneer Grover Plans To Raise Up To $300 Million For His Next Startup
He had earlier said he plans to start his own venture without seeking funds from investors
Ashneer Grover, former BharatPe co-founder, is holding discussions with US-based family offices and offshore private equity players to raise $200-300 million for his new undisclosed venture. As per reports, Grover might use his personal wealth to start his new company and might even sell a part of his stake in BharatPe for the startup fundraise.
On June 14, Grover announced that he is ready to get back into the business world with plans to build another Unicorn. He made this announcement through a tweet saying, "Today I turn 40. Some will say I've lived a full life and experienced more things than most. Created value for generations. For me, it's still unfinished business."
As per earlier reports, in contradiction to his current statement, he had said that he plans to start his own venture without seeking funds from investors. In his words, "I wish to start my own venture with my own money and make it profitable." He also added that he doesn't want to go to investors again and that his tussle with BharatPe was a badly fought corporate battle. Grover made this statement during the TiECon-2022 startup and entrepreneurial event held at Chandigarh.
Grover had also been in the news after his public dispute with Kotak Mahindra Group. The audio clip of Grover allegedly verbally abusing a Kotak Mahindra bank employee during a phone call was leaked and days after BharatPe sacked his wife, Madhuri Jain Grover, for alleged financial irregularities. Grover resigned as the managing director and board director of BharatPe on March 1, 2022.
Before BharatPe, Grover was associated with Grofers, another Unicorn, as the chief financial officer until August 2017.