News From Press Mutual funds ramp up stakes in new-age companies by 2-3X as PE/VCs head out

Mutual funds ramp up stakes in new-age companies by 2-3X as PE/VCs head out

Source: Moneycontrol Jun 28, 2023

The proportion of mutual fund (MF) holdings in new-age companies went up by about 2-3 times in FY23, albeit on a low base, according to data filed by companies with BSE. This happened even as PE/VC investors like Softbank, Tiger Global and TPG hastened to book exits from their holdings in such companies, amidst a worsening funding winter for tech companies. Mutual funds’ shareholding in Paytm rose from 1.05 percent to 2.71 percent during the period, Zomato from 2.82 percent to...

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