<article>Venture capital firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Accel+Partners" target="_blank">Accel Partners</a> has sold part of its stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=flipkart" target="_blank">Flipkart</a>, India&#8217;s largest e-commerce company, for $100 million to Qatar Investment Authority in a secondary transaction.</article>

Venture capital firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Accel+Partners" target="_blank">Accel Partners</a> has sold part of its stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=flipkart" target="_blank">Flipkart</a>, India&#8217;s largest e-commerce company, for $100 million to Qatar Investment Authority in a secondary transaction.
The deal does not change Flipkart&#8217;s $15 billion valuation, reported the Economic Times. Accel was the first venture investor in Flipkart in 2012, when it was expanding into other categories of products apart from books. Since then it has become India&#8217;s largest online store, following a similar model as that of Amazon in the US.
Accel will remain Bangalore-based Flipkart&#8217;s second-largest shareholder following this deal, after Tiger Global Management, the New York-based hedge fund.
This is the second time in less than a year that Accel sold part of its shares. In 2014, it had sold $80 million worth of stake to undisclosed buyers.
Qatar Investment Authority, the sovereign wealth fund of the Arab nation, has been an investor in Flipkart since participating in a $700 million fundraising round last year.
Flipkart, like other e-commerce players in India, has followed a strategy of rapid growth in customers and market share, which involves huge cash-burn. It has been spending huge amounts on discounts, marketing, beefing up technology and building warehouses. The company, which raised over $3 billion in the last 18 months, has been involved in a high-stake battle for marketshare with <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Snapdeal" target="_blank">Snapdeal</a> and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Amazon+India" target="_blank">Amazon India</a>.
Flipkart, in a recent regulatory filing, reported a loss of about Rs 2,000 crore for the fiscal year ended March 2015.
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VC  firm Accel Partners has sold part of its stake in Flipkart, India's largest e-commerce company, for $100 million to Qatar Investment Authority in a secondary transaction.

Accel sells part of Flipkart stake to QIA for $100m

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Accel sells part of Flipkart stake to QIA for $100m

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