SoftBank-backed AceVector raises $20 million from anchors ahead of IPO

What's the deal? AceVectorDealroom has a profile for this one. Try Dealroom →, a SoftBankDealroom has a profile for this one. Try Dealroom →-backed digital commerce group, raised US$25.7M (roughly $20 million) from anchor investors on September 24, one day before its initial public offering opens. The company allotted 5.906 million equity shares at US$0.43 apiece, the top of its price band.

Why now? The anchor round precedes AceVector's US$5.7-crore IPO, which opens for bidding on September 25. Pricing the anchor shares at the upper end of the band signals demand ahead of the public offer.

Who's backing it? The anchor allocation drew 14 funds, including Helios Mutual FundDealroom has a profile for this one. Try Dealroom →, Singularity Growth Opportunities Fund IIDealroom has a profile for this one. Try Dealroom →, Alchemy Long Term Ventures Fund Series 3Dealroom has a profile for this one. Try Dealroom →, and Negen Undiscovered Value FundDealroom has a profile for this one. Try Dealroom →.

The signal: AceVector's move to public markets tests investor appetite for India's digital commerce sector, with a marquee backer in SoftBank on its cap table.

Read more: economictimes.indiatimes.com

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