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Azim Premji’s fund may invest over Rs 4000000000 in this firm, likely to hit IPO in…

Azim Premji’s fund Premji Invest is one of the largest single investor funds in India.

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Azim Premji’s fund Premji Invest may invest more than Rs 4000000000 in graphic design platform Canva, as per a report by Moneycontrol. The report suggests that billionaire Azim Premji’s fund may buy shares tendered by employees in Canva’s recent secondary market sale where shares worth Rs 13341 crore changed hands between existing and new shareholders. The move came at Canva’s valuation of Rs 216806 crore. Moneycontrol’s sources believe that investment of over Rs 400 crore at a valuation of Rs Rs 216806 crore for a company that will go for IPO in two years is a good deal.

For those who are unaware, Azim Premji’s fund Premji Invest is one of the largest single investor funds in India. It currently has assets under management (AUM) of more than Rs 119224 crore, with major investments in India and US. Companies including Lenskart, Firstcry, Purplle and others have Premji Invest as a key investor.

In the past few months, Azim Premji has invested heavily in AI based companies. Last month, Premji Invest co-led Rs 441 crore Series A round of Hippocratic AI along with investors including General Catalyst, Memorial Hermann Health System and SV Angel. Hippocratic AI is a company that is creating specialised voice-enabled generative AI agents for healthcare. The tool communicates with patients and collects patient information, conducts follow-ups, executes tasks that involve clinical procedures.

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