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Early Bhavish Aggarwal backer Z47 fully exits Ola Electric with 7-10X returns
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Z47, formerly Matrix Partners India and one of the most prominent backers of Bhavish Aggarwal’s ventures, has fully exited its position in his electric two-wheeler maker Ola Electric, according to people aware of the matter.
The venture capital investor, which was also an early backer of ANI Technologies (under which Ola Electric and the entity that runs the Ola Cabs business was housed initially), has been selling the EV company’s shares in open market transactions, bringing its stake down gradually. One of the persons cited above said the VC…
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