Mumbai, Aug. 12 -- Private equity firm Tiger Global Management has fully exited Indian digital entertainment company The Viral Fever (TVF), creator of shows such as Kota Factory and Panchayat, in a transaction that valued the company at one-fourth of its 2019 peak valuation, three people close to the deal told Mint.

The private equity firm sold up to a 40% stake to investors, including Lighthouse India Fund-I, Frontier Globecap Ventures and LC Nueva Advisors LLP, in a round that valued the company at $22 million, down from $82 million in 2019.

The exit comes a decade after Tiger Global acquired a significant minority stake of roughly 25% in TVF's parent company, Contagious Online Media Network, through an initial $10 million investment ...