Wellington May Join Existing Investors in Funding Porter

The $100 million round is expected to value the startup between $1.2 billion and $1.4 billion

- Priyamvada C. & Sneha Shah

Private equity firm Wellington Management is likely to lead a $100 million funding round in new-age intra-city logistics services provider Porter alongside other existing investors, three people familiar with the matter told Mint.

"The round is expected to value the startup between $1.2 billion and $1.4 billion dollars, and will be a mix of primary and secondary share sale," one of the three people cited above said on the condition of anonymity.

In response to Mint's query, a Porter spokesperson said, "As per company policy, we do not respond to market speculations." Wellington Management did not immediately respond to requests for comment.

To be sure, Wellington has made multiple bets on India's logistics sector, including investments in online trucking platform Blackbuck, and food delivery firm Swiggy, both of which went public last year. Some of its other investments in startups include Go Digit, Urban Company, and Policy Bazaar.