outh- and Southeast Asia-focused early-stage impact investor Aavishkaar will exit its stake in Jaypore E-Commerce, an India-based retailer of clothing, handicrafts, and accessories, to Aditya Birla Fashion and Retail (ABFRL). ABFRL has agreed to acquire 100 percent of Jaypore at an enterprise value of INR1.1 billion (approximately USD16 million). Separately, Aavishkaar has also made a partial exit from its investment in Utkarsh Coreinvest, an India-based non-banking financial company providing financial products to SMEs and other under-banked populations, to an undisclosed secondary investor. The partial exit has reportedly provided Aavishkaar with a multiple of invested capital of 9.5x and an IRR of approximately 33 percent in local currency terms. Aavishkaar continues to hold a stake of less than 5 percent in the company.