The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
Principal Mineral is the latest Ensemble portfolio company to be involved in a single-asset CV, following similar transactions for CHAOS and Saronic earlier this year.
The growth-oriented investor reportedly offered stakes in companies including OpenAI and SpaceX to attract interest in the CV.
The multi-strategy investment firm is reportedly considering a $350-400 million CV for four portfolio companies.
Existing investors Verlinvest and the Mirchandani family have also increased their stakes in the India-based yogurt brand.
The oversubscribed vehicle rolled over a portfolio of investments made between 2015 and 2021.
Anchored by a stake in TikTok parent ByteDance, the multi-asset CV reportedly drew backing from Abu Dhabi's Lunate, among others.
The reported stake divestment by General Atlantic marks a ~15% uplift over the TikTok parent's valuation in a November share auction.
The oversubscribed vehicle received additional participation from CSSC Insurance, Wuxi Venture Capital, Boyuan Capital, and Huikai Investment.
The Chinese technology giant is reportedly expected to have a valuation of at least $350 billion.
