New Investors May Bring $150 Million To Zomato’s Table

MUMBAI: A set of four new risk investors is expected to join the ongoing $600-million financing round at online food delivery company Zomato, two people in the know of the matter said, signalling continued interest in India’s internet story despite the Covid-19 crisis upending businesses across the board. Hong Kong-based hedge fund Steadview Capital, South Korean Mirae Asset-Naver Asia Growth Fund, US hedge fund Luxor Capital and private equity firm Bow Wave Capital are likely to collectively pump $150 million into the company, these people said. UK’s Baillie Gifford, which had invested earlier in the round, will add more funds, a person familiar with the matter said. Interestingly, Mirae backed Zomato’s closest competitor, Swiggy, earlier this year through another vehicle – Mirae Asset Capital Markets.