Lok Capital Partially Exits RuralShores Business Services (Asia)

Source: VCCircle  |  Author(s): Bhawna Gupta

Venture capital firm Lok Capital has partially exited its investment in India-based rural business process outsourcing firm RuralShores Business Services by selling its stake to an unnamed buyer. The transaction was structured through Lok Capital Fund I. Lok Capital made a reported 6x return in INR on the investment, and remains invested in the company through a separate fund. Lok Capital originally invested INR13.5 million (approximately US$270,000) through its first fund in 2009. Financial details of the transaction were not disclosed.