Tech
Early investor gifts Lenskart’s first term sheet; had acquired 40% stake for $4 million
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Marking a nostalgic moment in the eyewear brand’s journey, one of Lenskart’s earliest backers, Chiratae Ventures’ cofounder TCM Sundaram, presented CEO Peyush Bansal with a framed copy of the company’s first term sheet.
A term sheet is a non-binding document that outlines the key terms of a business deal, usually an investment, acquisition, or loan.
Back in 2011, Lenskart Solutions (then called Valyoo Technologies) had raised $4 million in its first funding round from Chiratae Ventures (formerly IDG Ventures India), giving the investor a 40%…
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