Venture Catalysts Exits Insurance Samadhan with 3.65x Return

New Delhi, Dec 7 (PTI) Early-stage investment firm Venture Catalysts on Thursday announced a partial exit from its portfolio company Insurance Samadhan, after clinching returns of up to 3.65 times on its initial investment in the company, according to a release.

Other angel investors made a successful exit with 3-fold return, on their investment in the platform that resolves insurance complaints.

"Early backers of Insurance Samadhan, including the first institutional investor - Venture Catalysts, takes partial exit with returns ranging from 2.85x to 3.65x," the release said but did not provide details of initial investments made or amount realised.

Established in August 2018, Insurance Samadhan is a tech-based platform for resolution of insurance complaints like claim rejection, delay, short-settlement and mis-selling of insurance policies.

Venture Catalysts had invested in Insurance Samadhan early in a seed and Pre Series A round of funding, and has attained a partial exit within three years, the release said.

The company raised USD 2 million in a successful Series A round of funding led by IIFL.