Abu Dhabi Investment Authority to acquire a stake in Lenskart for $500 million

Abu Dhabi Investment Authority (ADIA) is nearing a deal to acquire a stake in Indian eyewear startup Lenskart Solutions Pvt. for about $500 million. The investment values the eyewear startup at more than $4 billion, according to Bloomberg.

The Middle Eastern sovereign wealth fund is finalizing an agreement to buy a mix of existing Lenskart shares and new equity, the people said, asking not to be identified as the information is not public. The deal, which would value Lenskart at more than $4 billion, could be announced as early as this week. Though discussions are advanced, details could still change.