Manipal Group invests in Purplle with secondary purchase from JSW Ventures
With this transaction, JSW Ventures has fully exited its stake in Purplle from Fund I and has returned 2.7 times the fund size to its investors so far
 "Manipal Group invests in Purplle with secondary purchase from JSW Ventures")
JSW Ventures has exited its shareholding in beauty company Purplle through a sale to Manipal Education & Medical Group Family Office (MEMG). JSW did not reveal the value of the transaction.
"The Purplle team has created a digital ecosystem that revolutionises how Indian consumers discover and experience beauty products," said Ranjan Pai, chairman of the Manipal Group. "We are excited to be part of Purplle's journey as they scale up."
With this transaction, JSW Ventures has fully exited its stake in Purplle from Fund I and has returned 2.7 times the fund size to its investors so far.
"Purplle was one of our earliest investments as a fund in 2016 and it has delivered a 57 per cent internal rate of return (IRR)," said Sachin Tagra, managing partner at JSW Ventures. "We have returned 2.7 times the corpus of the first fund. We continue to stay invested in Purplle from our second fund."
"We are excited about the value-add that Dr. Pai can add," said Manish Taneja, co-founder and CEO at Purplle. "We are grateful to the JSW Ventures team for all the support extended to us since 2016."