ADV was co-founded in 2013 by Mount Kellet Capital's India head Suresh Prabhala along with Brad Landes and Jianyi Zhu, who also worked at the investment firm.
Big Indian family business houses are now busy chalking out and implementing strategies to join the digital economy and get leverage from the ongoing startup boom.
Early-stage venture capital firm India Quotient is closing its second fund at $20 million from both institutional investors and high net worth individuals.
When contacted, Vishal Gupta, managing director, Bessemer Venture Partners India, confirmed the sale of stake in IEX to TVS Capital.
Gupta, former chief executive of Castiron , has already joined the boards of Kalaari-funded education technology venture Simpli-Learn and personal chat assistant app Haptik.
He will lend his expertise to IDG Ventures portfolio companies on business growth, global expansion, team building and leadership.
The sources said that Flipkart could shell out around $60 million or Rs 400 crore for a majority stake in the New Delhi-based company.
Grofers said it has access to 23 dark stores in Delhi, Mumbai and Bengaluru and aims to have 50 in place by the end of this year.
Sequoia is considering plans to raise about Rs 5,000 cr for a new fund, after it underlined its strategy for an aggressive pace of investments.
Experts say this is a fallout of back-to-back capital infusions, overheated valuations and a thrust on growth over profitability.
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