Suits & Sayings: Neighbourhood Deal

Alumni networks are great, but sometimes the right neighbourhood is even greater. When a prominent ecommerce entrepreneur was looking to offload part of his stake in an electric vehicle startup, he found a ready taker in his neighbour, a prolific founder-turned-investor. The ownership through the secondary transaction added to his existing position in the EV company. He wanted to double down further on this bet and was willing to take over the selling investor’s remaining stake. The ‘neighbourhood deal’ was struck at a luxury tower in the country’s startup capital over a quick catch-up. It always helps to have neighbours with whom you can party and strike business deals.

(For more on our weekly roundup of wackiest whispers and murmurs in corporate corridors & policy parlours, pick up today's edition of The Economic Times newspaper)