New Delhi, June 1 -- Venture capital firm Peak XV Partners is reshaping its seed-investing platform Surge while the founders of online travel platform Yatra are in talks to sell a controlling stake in the company, separate media reports said.
Peak XV
VC firm Peak XV is integrating its seed platform Surge more closely with its overall early-stage investment operations, The Economic Times reported. The move follows exits of team members and a slower cohort intake.
The report noted that Aaditya Sood, one of the last senior executives closely associated with Surge, had not been active for eight months and had transitioned to an advisory role. Moreover, Surge has been running one cohort a year since 2024, compared with two a year it planned at the time of its launch in 2019, the report said.
Yatra
Yatra's founders are looking to sell their stake in the company, The Economic Times reported. It added that feelers have been sent to peers MakeMyTrip and Ixigo as well as to Paytm Travel and Rapido, along with a private equity fund. It didn't disclose the PE fund's name.
The report said that initial offers are likely to be submitted next week.
Yatra was founded two decades ago and counts Dhruv Shringi, Manish Amin and Sabina Chopra as its co-founders. The company first listed on the Nasdaq in 2016 and then floated an IPO of its Indian entity, Yatra Online Ltd, in September 2023. The promoters currently own a 62.66% stake in the India-listed company. Yatra Online Ltd's shares are currently trading around Rs 100 apiece on the BSE, about 30% below their IPO price.
Published by HT Digital Content Services with permission from VC Circle.