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IAN scores 3.2X gains in Spinny deal: Exits with Rs 5.34 Cr on Rs 1.67 Cr investment


In this ongoing season of exits, Indian Angel Network (IAN) has especially started its impressive streak of secondary deals, by making three exits in past 6 months.

In a press statement released today, IAN made an announcement that the recent $13.2 million Series A round raised by Spinny facilitated IAN with an opportunity to make an exit.

The network that had invested Rs 1.67 crore three years ago – the beginning years of Spinny – made 3.2X gains in the latest deal by taking a complete exit.

This means that IAN has made around Rs 5.34 crore in the Series A round.

The first complete exit IAN had made was from FabAlley in January this year. In the second week of last month, when TagBox had raised $3.85 million in a Series A round from TVS Motors, IAN had made its second exit within 18 months of making an investment.

Here, since the amount invested in TagBox – Rs 3.5 crore – was greater than Spinny investment (Rs 1.67 crore), the 3X exit also stood formidably around Rs 10.5 crore.

This is important because a 3X gain of such worth within 18 months of investment makes way for a lot of early-stage investors to make quick and good money, further improving the investment and capital gain scopes of the industry. 

Meanwhile, it also took multifold exit from Noida-based online women’s fashion brand FabAlley.

As far as early investors go, this year has continued with improving pattern and scope of exits.

DSG Consumer Partner, an early investor in OYO, also made a complete exit in March 2019 from what is world’s sixth largest hotel chain now with at least $6.5 million (6.5X gains) in its pocket against a million dollar worth investment across the years till Series B round.

At max, the gains could also have gone up to 23X with the Deepak Shahdadpuri led VC making $23 million.

This shows how 2019 has been a good year for early investors when it comes to making money. However, as the year goes, such incidents further re-establish hope that  2019 will become only better than 2018 when it comes to the culture of secondary exits in the startup ecosystem.

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