While the excitement regarding the $16 billion Walmart-Flipkart deal is still resonating around the market, one person who will be emerging as the real champion from the deal will be Azim Premji, reported The Economic Times.

PremjiInvest will make more than $130 million due to the deal, ET reported on Friday.

The development is the result of the $25 million investment PremjiInvest made in Myntra back in 2014, the report said. “(PremjiInvest) had given Myntra a term-sheet at the end of 2013 and invested in it by 2014. They were one of the only players willing to take the risk at that time,” an investor was quoted saying as in the report.

What made the investment a goldmine was the fact that a few week after the investment was made, Flipkart acquired Myntra, the report said. Flipkart, which was valued at around $1.6 billion at the time has grown into a bigger firm.

According to the report, the success of PremjiInvest in the market is mainly due to the frequency and size of its investments.

“PremjiInvest is an exception in this entire game. They are looked at as a fund and not a family office as they do large cheques. Their approach has been more early-growth private equity investor than a venture capital investor,” Karan Sharma, co-head of the digital and tech vertical at investment bank Avendus Capital was quoted saying in the report.

First Published:May 18, 2018 10:03 AM IST