The reported stake divestment by General Atlantic marks a ~15% uplift over the TikTok parent's valuation in a November share auction.
The firm will reportedly pay about $350 million for a 40% interest, implying an equity valuation of roughly $875 million for the Israeli camouflage technology manufacturer.
The employee and early investor auction valued the workplace trust company at over £100 million and marked the third transaction conducted under the PISCES framework.
The CV would reportedly acquire ByteDance and Ant Group stakes at a roughly 30% discount to their combined $1.5 billion NAV.
The $300 million secondary share sale was led by Wellington and T. Rowe Price and brought in new investors, including EQT, Goldman Sachs, and Sapphire Ventures.
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
The transaction will reportedly value the India-based D2C lifestyle brand at up to $521 million, more than 3x its last reported mark.
The Series H round will combine primary and secondary capital, giving the fintech a post-money valuation of $4.5 billion.
Anchored by a stake in TikTok parent ByteDance, the multi-asset CV reportedly drew backing from Abu Dhabi's Lunate, among others.
The pre-IPO funding round, which included a mix of primary and secondary capital, reportedly valued the dairy producer at $1.1 billion.
