Gordian Capital acquired a digital ventures portfolio of Axiata Group for $140m.

Pegasus 7 Ventures, an investment fund managed by Singapore’s Gordian Capital, acquired a digital ventures portfolio of Axiata Group, a Malaysian telecommunications conglomerate, for $140m. The sale consists of ownership stakes in category-leading digital businesses such as India’s largest rural commerce platform, StoreKing, and global micro-insurance company, BIMA. “It is a pleasure to partner with Axiata Digital on a portfolio which addresses emerging market needs, with distinct solutions and innovations for those at lower income groups. These companies are poised to scale significantly and create value for their stakeholders while continuing to make positive impacts in underserved communities. The addition of these assets to the Pegasus 7 portfolio is synergistic with our thematic focus and will serve as an enabler for our future growth path.” says Gautam Saxena, Founder Pegasus 7 Ventures.