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Global investment firm Fidelity has marked down the valuation of fintech unicorn Pine Labs and e-commerce company Meesho.As per the regulatory filings with the US' Securities and Exchange Commission (SEC), Fidelity cut the valuation of Pine ...
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As per the filings, Fidelity's funds have set Meesho’s fair value at around $4.1 billion as of October 31, 2023, down from around $5 billion as of end-August. Meesho was last valued at $4.9 billion after raising $570 million in 2021.
Fidelity invested around $42 million in Meesho’s Series F round in October 2021. In Pine Labs, Fidelity's latest round was in July 2021 when the Singapore-registered company raised $600 million. �� US-Based Investments Firm Fidelity Cuts Down Valuation of Pine Labs to 'USD 3 Billion From USD 4.7 Billion' and Meesho to 'USD 4.1 Billion From USD 5 Billion'.
Recent actions by the seasoned asset management behemoth Fidelity have drawn interest from investors and entrepreneurs alike in the complex web of the Indian startup environment. The papers show that Pine Labs and Meesho, two well-known portfolio companies, have had their valuations adjusted.