Venture capital investor RVCF made yet another exit with a multi-bagger return of 23 times its investment in Udaipur-based customised furniture firm The Woodenstreet Furnitures.
According to the transaction details, against its investment of Rs 3 crore made in 2018, RVCF realised Rs 70.7 crore. RVCF was the first venture capital investor to provide seed capital to Woodenstreet. The partial exit has come along with primary investment from Westbridge Capital.
RVCF had followed up its first investment in Woodenstreet with a second cheque of Rs 3 crore as a follow-on investment and still holds a little over 2.5% stake. in the company. Indian Angel Network Fund was the lead investor in that round, in the calendar year 2020.