Misra was emphatic that SoftBank will continue to bet on hungry founders, but acknowledged that founders' egos often come in the way.
"What BigBasket has been missing is deep-pocketed investors till now, and if this deal goes through they will not have to worry about capital," said a venture capital investor tracking the space.
021 Capital will invest up to $2 million each in startups across sectors, including biotechnology, agriculture and internet.
Last week, SoftBank acquired a $2.5-billion stake in Flipkart, taking its total investments in Asia’s third-largest economy this year to $6 billion.
GST, marketing blitz, and a focus on popular products pay off for online grocer
Tiger Global — once the largest backer of Indian startups — has not made any new investments in India since the end of 2015. That is now set to change.
Early backer of Paytm & MakeMyTrip raises $350 m for investment in education, healthcare & consumer brands
The Bengaluru company has raised nearly $400 mn since November last year as it seeks to fortify its position as the first mover in the Indian taxi aggregation market.
At Rs 4,000-cr valuation, WestBridge will get a 22.5% stake in what could be the largest investment in a privately held FMCG player in India.
BigBasket is seeking a pre-money valuation of at least $550 million. The company was valued at about $450 million when it raised capital in March, 2016.
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