OCP Asia Ltd. (OCP Asia) which manages hedge funds, along with Network18 has injected a fresh round of growth capital of $30 mn, in India’s one of the oldest ecommerce brand Homeshop18. OCP Asia will invest USD 15 Million into the company, matched by an equal contribution from Network18. While the transaction values HomeShop18 at USD 330 Million, Network 18 still remains the majority share holder with 51% of stake.
According to some reports Homeshop18 has already filed for a “confidential” Initial Public Offering (IPO) at the Nasdaq. It had raised $18.6 million from SAIF partners and existing investors in July 2012. Also, GS Home Shopping, a South Korean company, had invested $ 18.5 million along with $ 5 million from Network 18 in a funding round in 2009.
OCP asia which is one of the top 25 hedge fund managers in Asia as per the Asia Hedge Fund 25 Ranking published by Institutional Investor has joined the wagon with the existing investors SAIF Partners, GS Shop, Network18.
HomeShop18, online and teleshoping arm of Network 18 launched its ecommerce store in 2011 with Homeshop18.com, after launching the 24 hrs T.V Channel in 2008, and now with the claimed portfolio of over 12 million SKUs across multiple product categories and a logistical reach of over 3,000 locations across India, Homeshop18 sells through its various channels which includes T.V, Internet and mobile.Category Investments News