TVS Capital invests to buy stake in Nykaa.Com

The private equity and venture capital arm of TVS Group, TVS Capital Funds Limited is set to invest Rs 25 crore to acquire a minority stake in the online beauty products retailer, Nykaa.Com. Adding to it, Nykaa.Com will be aided with Rs 60 crore series C fund raising by a clutch of investors, including high net-worth individuals, NRIs and family offices. Falguni Nayar, CEO of Nykaa.com, reported that the entire fund raising process is on the verge of completion, and the plan is to open more offline stores in the airports of Mumbai and Bangalore. Nayar is further looking forward to acquire distribution rights in India for an international beauty brand as well as including private labels in the make-up, bath and skin segments.