August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.

Issuing a statement on Monday, TEAM Ventures said that the partial exit from Foodmandu resulted in two fold returns for the firm in a short time span of two years.

TEAM Ventures claimed that the firm’s strategic investment facilitated Foodmandu’s exponential expansion of its customer and restaurant base as well as geographic expansion.

Foodmandu, Nepal’s largest food delivery company established in 2010, received Aeries A funding through True North Associates in 2016 and Series B funding from TEAM Ventures in 2020, added the statement.

In 2023, Dolma Impact Fund II further invested US$ 4 million in Series C funding, the firm said in the statement.