Axiata Digital will divest a 30 company-strong corporate venturing portfolio valued at $140m to Pegasus 7 Ventures, an investment firm run by one of its ex-executives.

Axiata Digital, the digital services subsidiary of Malaysia-based telecommunications provider Axiata, today agreed to sell its venture capital portfolio, valued at $140m, to investment fund Pegasus 7 Ventures, DealStreetAsia reported.

The portfolio consists of 30 companies inluding India-based e-commerce platform StoreKing, US-based mobile network operator FreedomPop and Sweden-based insurance provider Bima.

Going forward, the portfolio will be overseen by Gautum Saxena, a former adviser at Axiata Digital and the founder of Singapore-based Pegasus 7, which is itself…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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