Later in August, it sold another $25 million worth of shares to a fund managed by Avendus. It sold shares worth $55 million in the $300-million funding round in Xpressbees when it turned a unicorn last year. The VC fund invested about $4 million in the firm and has fetched returns to the tune of around $120 million in the last 12-18 months. Clocking partial exit: Elevation was allotted the stake in Xpressbees after it was spun out from its parent FirstCry in 2015.
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