Venture Capital firm Walden Software Investments exits MindTree

BANGALORE: Venture Capital firm Walden Software Investments has exited mid-sized IT services MindTree by selling its remaining 4.82% stake in the firm today.

According to a MindTree disclosure on the Bombay Stock Exchange, Walden, an early investor in the Bangalore based firm has exited its 12-year-old investment, by selling its remaining 1964205 shares in an open market transaction.

On Monday, founder of Cafe Coffee Day outlets V G Siddhartha had purchased 3.84 per cent stake, raising his holding from 17.79% stake to 21.56% in MindTree.

Siddhartha bought the shares from Walden, a subsidiary of VC firm Walden International, which sold a part of its remaining 4.8% holding in the company yesterday.

At the end of March 2012, Walden had 9.78 per cent stake in the company after it sold off almost half of its remaining stake. MindTree shares on the BSE closed 1.7% higher at Rs 615.