Ola in talks to raise $100Mn from Hong Kong-based hedge fund Steadview Capital

India based ride-hailing company Ola, is planning to raise $100 Mn investment from one of its existing investor from Hong Kong-based hedge fund Steadview Capital which will value the company at $5.6-$6.5 billion.”

According to the Economic Times report, a source familiar with this matter said “Steadview Capital is putting a large sum of capital as part of the round where Sachin Bansal is also investing. While a bunch of the transaction is in secondary sale of shares, the primary money is coming at a higher valuation.”

Earlier this month, Ola got a approval from Competition Commission of India (CCI) to acquire an additional 6.75% stake in ANI Technologies Pvt, Ltd which is also a parent company of Ola.

Ola earlier announced its plans to expand in New Zealand and has appointed Brian Dewil as its Country Manager there.