YourNest Venture Capital exits Uniphore, records about sevenfold return
YourNest Venture Capital has sold its entire stake in conversational artificial intelligence technology startup Uniphore. YourNest had first invested in Uniphore in 2014 from its maiden fund, a Rs 90 crore investment vehicle. It had pumped in an estimated Rs 8 crore across rounds in the Palo Alto, California and Chennai-based company for a 5% stake.
Through this exit, it has earned about Rs 55 crore, or a shade less than seven times its investment, according to a senior executive at the firm.
“In these turbulent times, a profitable cash exit is heartening and we are delighted to share the proceeds with our investors by returning over 60% of the fund corpus invested. This also validates our thesis of investing in pre-series A startups with a global vision and a strong team,” Sunil Goyal, managing director and fund manager at YourNest Venture Capital, said.