Venture capital firm Walden International, through its entity Walden Software Investments Ltd, seems to have started a gradual exit from its nearly decade-old investment in IT services firm MindTree Ltd. The firm has sold over a 4% stake in the Bangalore-based company, reducing its stake from 15.77% as per March end, show filings made to Bombay Stock Exchange (BSE). 

According to VCCircle's calculations, the San Francisco-headquartered VC firm would have netted between Rs 75 and Rs 95 crore from this sale. The VC firm offloaded most of this stake after August this year, when MindTree was trading well over Rs 500 per share.

As of October-end, Walden still holds an 11.46% stake in MindTree, which would be worth around Rs 260 crore as per the prevailing market capitalisation of around Rs 2,300 crore.

The venture capital firm invested Rs 23.68 crore in MindTree at Rs 41 per share. This was during MindTree’s first round in 2000, when Global Technology Ventures (GTV) also co-invested in the $9.5-million deal.

It raised another $14 million in 2001 from Capital Internat