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PremjiInvest logs partial exit from listed portfolio firm 

PremjiInvest, the private investment arm of Wipro Ltd chairman Azim Premji, has sold part of its stake in a portfolio firm in which it initially put money almost nine years ago. This is the first exit activity of the investment firm this year and comes shortly after it appointed TK Kurien as managing partner and chief investment officer last month. The firm struck at least three exit deals last year. It divested its stake in ServiceMax Inc when the company was acquired by General Electric in November 2016. It also offloaded its stake in Manipal Global Education Services and Wilderness...

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PremjiInvest is a private equity firm with $1 billion assets under management. It invests in both private and public equity of companies operating in India. The fund seeks to invest in automobile, finance, education, healthcare, hospitality and retail sector. It typically invests between $20 million and $60 million in its portfolio company. The company was founded in 2008 and is based in Bengaluru, Karnataka.

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