Baron Capital increased the fair value of its stake in Swiggy to $87.2 Mn from its original investment of $76.7 Mn
Swiggy was valued at $10.7 Bn during its last $700 Mn fundraise in 2022, led by Invesco
The development comes at a time when the foodtech giant is preparing for a mega IPO, with an expected issue size of $1 Bn, in 2024
US-based asset management firm Baron Capital Group has increased the fair value of its stake in IPO-bound food delivery major Swiggy, resulting in an over 13% increase in the startup’s valuation to $12.16 Bn from its valuation of $10.7 Bn during the last fundraise in 2022.
As per Baron Capital’s annual financial report for the year ending December 31, 2023, the firm increased the fair value of its stake in Swiggy to $87.2 Mn, up almost 14% from its original investment of $76.7 Mn.