BharatPe’s ex-MD Ashneer Grover to raise investment for a new startup

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Recently, BharatPe’s Co-Founder and his wife were removed from the company after getting involved in a controversy. They were alleged of financial irregularities and governance issues. If you thought this is the end of Shark Ashneer Grover, then you are wrong.

On 15th June 2022, it was the 40th Birthday of the Founder and ex-MD of BharatPe. As uninteresting as it sounds, the brutal Shark of Shark Tank India Season 1 seems to be set to form his third unicorn and “disrupt another sector”.

In a tweet on the same day, Ashneer Grover mentioned, “Today, I turn 40. Some will say I’ve lived a full life and experienced more things than most. Created value for generations. For me, it’s still unfinished business. Time to disrupt another sector. It’s time for the Third Unicorn!!”

Mr. Grover has played a major role in the formation of unicorns like Grofers and BharatPe and according to reports, now he is planning to raise around $200-$300 million for yet another startup. He may sell his 8.5% stake i.e. valued at $3 billion in BharatPe or raise funds for its new venture. According to two anonymous resources, he is currently in talks with US-based offices and private equity players to raise this amount. He also has buyers for his BharatPe stake.

“He may use some of his personal wealth to start with. Eventually, he may either sell a part of his stake in BharatPe or raise fresh capital by issuing a stake in the new company.”

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The industry or any details about this startup is unknown but he has spoken to six investors for the same deal already. One of the people who chose to stay anonymous told the Mint, “He may use some of his personal wealth to start with. Eventually, he may either sell a part of his stake in BharatPe or raise fresh capital by issuing a stake in the new company. He has met at least six investors regarding his new venture. Discussions are preliminary right now.”

Featured Image Credits: Ashneer Grover- LinkedIn

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