Elevation Capital Sells $40 Million Stake in Xpressbees to Khazanah Nasional

Posted on 05/03/2023

Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, acquired a US$ 40 million stake, or 4% stake, in Mumbai-based third-party logistics provider Xpressbees from Elevation Capital. This acquisition will be made through a secondary purchase from an early investor in the company, Xpressbees said in a release.

Xpressbees touts investors such as Blackstone Growth, TPG Growth (TPG Capital), ChrysCapital, Alibaba Group, Elevation Capital, Investcorp, Norwest Venture Partners, and Gaja Capital among its existing set of investors.

Keywords: Blackstone Group LP.

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