CandyDate Jobs India Raises Funding From Deberry Ventures
by Irfan Khan
Denmark based PE fund Deberry Ventures has invested R88Lacs in New Delhi based HR consultancy CandyDate Jobs for a 0.32% stake in the company valuing CandyDate Jobs India at R275Cr. The funds will be used for hiring and expansion.
Denberry Ventures has an option to offload its stake any time after 3 months. It will also invest an additional US $1Mn if the company achieves certain objectives.
CandyDate is also in talks with Exhilway, Canada based wealth manager with a PE fund of US $1Bn to raise more funds before it comes out with an IPO.
CandyDate Jobs India is a exclusive franchisee of US based HR Consultancy firm - CandyDate Jobs. CandyDate Jobs is valued at $1.04Bn by Singapore based Olson PE fund who owns 5% stake in the company. Promoters hold 93% of the company.
SAIF Partners, one of the early backers of BSE listed local search directory, Just Dial has sold close to 2.4% stake in the company for a total of INR254 Cr. The part exit fetches the fund, a 30x returns on its seven year old investment.