Titan Capital’s 100x return club: MamaEarth, Ola, Urban Company and Credgenics

Early stage venture capital firm Titan Capital was in the news for making a 100-fold return on its investment in debt recovery and legal automation platform Credgenics. The Kunal Bahl and Rohit Bansal-backed investment firm is also expected to make a similar return from D2C brand MamaEarth which recently sought a listing on the bourses.

As per Entrackr’s sources, Titan Capital has added two more startups to its 100x return club – Ola and Urban Company. Notably, both exits were done at a time when these companies reached their peak valuation. The firm had invested in Ola in 2011 and they exited fully in late 2021. The investment was to the tune of $60,000.

Ola was valued at $7.3 billion in 2022.

Titan Capital invested in Urban Company’s seed round in 2015 and through a partial stake sale, it netted another 100x plus return in 2021, according to sources. Elevation Capital and Accel Partners also invested in the Gurguram-based home service marketplace’s Rs 10 crore seed round eight years ago.

Urban Company’s valuation escalated to $2.8 billion during an ESOP buyback plan in December 2021.

Queries sent to Titan Capital, Ola, and Urban Company did not elicit an immediate response.

Apart from Credgenics, which was valued at $350 million after Series B round, all three – Ola, Urban Company and MamaEarth – are unicorns. Since its inception in 2015, Titan Capital has backed more than 200 startups including six unicorns, Razorpay Snapdeal and Ofbusiness.

The MamaEarth IPO is expected to provide hefty returns to more early investors such as Fireside, Stellaris, and actor and influencer Shilpa Shetty. A rough calculation suggests that Bahl and Bansal had bought 11.9 lakh shares each at about Rs 38.30 lakh and are now selling them at Rs 38.66 crore in the IPO.

Titan has also made partial or full exits from several startups, including Bewakoof, Unicommerce, ANS Commerce and Netmeds.com.