Lightspeed, Sequoia sell 15% OYO shares for 20 times profit

08:00:00 PM, Saturday 30th of November 2019 | in business

Lightspeed Venture Partners’ and Sequoia Capital India’s partial exit from OYO highly benefited them as they sold a 15% stake in OYO Hotels & Homes to founder Ritesh Agarwal for $1.5 billion. According to reports, Lightspeed, which put in $28 million in OYO, is making over 35X returns whereas Sequoia, which made $25 million, will garner over a 20X return on its investment. Both the VCs will continue to hold a 4-5% stake in OYO.