Reliance Ventures exits Dhama Innovations, scripts three more

Reliance Venture Asset Management, a corporate venture capital firm of the Reliance ADAG Group, has exited its portfolio company Dhama Innovations, a Hyderabad-based MIT startup that makes specialized clothing for adverse climatic conditions.

Without disclosing the name of the buyer, Harshal J. Shah, CEO & Founder of Reliance Ventures said that there are two private equity players who are picking up stake in the company. He added that the company will see a transition from being technology-focussed and IP-driven to consumer-focussed like retail. The PE players now want to build the company in this direction.

Dhama also marks the first exit from Reliance Venture Asset Management portfolio. Talking more about the exit plans in the portfolio, Shah added that  Reliance Ventures is also considering exiting from three other investments