Get All Access for $5/mo

Eyewear Retailer Lenskart to Raise $400 mn From Abu Dhabi Investment Authority: Report The investment, once complete, is likely to give ADIA a near 10 per cent stake in Lenskart

By Soumya Duggal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Peyush Bansal, Co-founder and CEO, Lenskart

Abu Dhabi Investment Authority (ADIA) is in advanced talks with New Delhi-based eyewear retail chain Lenskart to invest a sum of $350 million to $400 million, according to a report by The Economic Times. ADIA is a sovereign wealth fund owned by the Emirate of Abu Dhabi founded for the purpose of investing funds on behalf of the government of the Emirate of Abu Dhabi.

The investment, the largest fundraise by SoftBank-backed Lenskart, will most likely be through a secondary sale of shares with a primary round consisting of growth equity at a $4.5 billion valuation, stated the report, explaining that some of Lenskart's investors are looking for a partial exit.

While it hasn't yet been decided which investors would dilute their stake and by how much, an official announcement to that end could be out within a couple of weeks, said the report. The investment, once complete, is likely to give ADIA a near 10 per cent stake in Lenskart. The latter expanded its international presence last year in Singapore, the US and the West Asia, in addition to acquiring a majority stake in Japanese eyewear brand Owndays and, as a result, becoming one of the largest online eyewear retailers in Asia.

Last month, Lenskart raised $39.6 million from Chiratae Ventures, DSP India Fund and Axis Growth Avenues AIF-I in its fifth fundraising round this year. The omnichannel eyewear brand was founded in 2010 by Peyush Bansal and today counts among its investors KKR, Premji Invest, Kedaara Capital, Temasek and Falcon Edge, among others.

Soumya Duggal

Former Feature Writer

News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Franchise

Kick-Start Your Small Business With These Cost Effective Strategies

Starting a small business is an exciting adventure, brimming with both opportunities and challenges. A key to success is effectively managing costs from the outset.

Green Entrepreneur®

How Global Business Leaders Can Build a Sustainable Supply Chain

Businesses can build sustainable supply chains by leveraging technology to reduce environmental impact, optimize resources and track emissions while balancing operational efficiency and sustainability goals.