Darwinbox to Raise $150 Mn From KKR, Partners, Other PEs

Global private equity firms KKR and Partners Group are nearing a deal to lead a $120-150 million funding round in HR-tech services provider Darwinbox, said three people aware of the development, as private equity firms continue to hunt for mature tech startups closer to profitability.

- Sneha Shah & Ranjani Raghavan

MUMBAI:

The deal, likely to value the company at around $950 million, will be a mix of primary and secondary fundraise, the people said on the condition of anonymity. "While KKR is pumping in $50 million in the company, Partners Group will pool in $55 million," the first person quoted above said. Early investors Peak XV, Lightspeed Ventures, StartupXseed and Endiya Partners are likely to exit their investment either in part or full in a secondary round. Mint was the first to report the investors' intent to sell in July 2024.