The participants plan to expand the range of transferable private credit assets and improve verification as tokenized secondary markets develop.
Avendus Future Leaders Fund III, which is already 30% deployed, has invested ~$15 million in Parag Parikh Financial Advisory Services via secondary.
The deal is reportedly expected to provide liquidity to early backers, including Lok Capital and British International Investment.
The pre-IPO funding round, which included a mix of primary and secondary capital, reportedly valued the dairy producer at $1.1 billion.
The deal also drew investment from several family offices, including SRF Family Office.
The firm is reportedly seeking to offload at least 40% of its holdings, in a deal that would value the Singapore-based company at $5 billion.
The transaction, which saw participation from existing backer LeapFrog, provided early investors with an exit.
Secondary capital represented ~54% of the identity verification startup's equity raise.
The payment solutions provider's follow-on funding was secured from WestBridge Capital.
The secondary share sale benefited 259 current and former employees of the customer engagement platform.
