Blue River Capital Exits City Union Bank at 3.4x (Asia)
Source: VCCircle | Author: Shrija Agrawal and Madhav A. Chanchani
Blue River Capital, an Indian private equity firm, has completely exited from its investment in India’s City Union Bank. Blue River first invested in City Union Bank in 2007 as part of a consortium that included Dutch development finance institution FMO and U.S.-based venture capital firm Argonaut Ventures, and began exiting the publicly listed bank incrementally through share sales on the Bombay Stock Exchange in 2010. After the final share sale, Blue River Capital’s aggregate return multiple was reported to be 3.4x.