In the current fiscal, SoftBank Vision Fund, the venture capital arm of the SoftBank Group, has sold stakes in its portfolio of listed Indian companies such as Paytm, Zomato, PB Fintech, the parent of Policybazaar, and Delhivery, among others. The stake sale comes as the SoftBank Group’s flagship Vision Fund incurred an investment loss of $3.86 billion (excluding gains on bets in subsidiaries) in the six months ended September 30, 2023, due to lower share prices of its listed portfolio companies and valuation markdowns of its private portfolio companies.

The stake sale by SoftBank in FirstCry has paved the way for family offices and investment firms to pick up shareholding in the firm ahead of the IPO. Recently, Infosys co-founder Kris Gopalakrishnan, TVS group family, Ravi Modi of ethnic wear brand Manyavar, and Family offices of Indian cricketer Sachin Tendulkar invested in the company, as per the report.

Among others, Marico’s Harsh Mariwala’s Sharrp Ventures, Manipal Group’s Ranjan Pai’s MEMG Family Office, and Hemendra Kothari’s DSP family office also picked shares in FirstCry.