Brazilian Firm to Provide Liquidity to Indian ‘Soonicorns’ as Benefits

Author: Nishu June 15, 2022

Brazilian Firm to Provide Liquidity to Indian 'Soonicorns' as Benefits


Velvet has set aside $200 million to invest in India and some other emerging markets

Velvet has set aside $200 million to invest in India and some other emerging markets

Velvet, a Brazilian provider of liquidity-as-a-benefit solutions for startups, on June 15 said it has entered the Indian markets to complete technology ventures with a valuation of around $300 million.

Velvet is a platform that buys stakes in promising, privately owned startups, allowing their partners and employees to monetize part of their vested equity before the company goes public.

The company said it has set aside $200 million to invest in India and other markets. To begin with, it will collaborate with three to four startups in the country. It has already signed a $10 million deal with India’s 100th unicorn, Open Financial Technologies.

Carlos E. Naupari, Co-Founder and Co-CEO of Velvet said, India was a huge opportunity market for Velvet, however, the customer pipeline will be selective, curated and targeted at ‘Soonicorn’.

Vivek Bore, Founder, India Office of Velvet said, “We are going to focus on educating the ecosystem on our offering and how it enables scaling companies to retain talent. Our recurring liquidity program enables early startup partners to continuously tap otherwise unavailable liquidity.”

The company claimed that Velvet enables high-income investors to sell their stake through a platform that is linked to some of the largest private banking and wealth management firms around the world, who will sell stake on behalf of their clients and Will buy

15 June, 2022, 4:56 pm

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Wednesday, 15th June 2022

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