Venture capital firms Sequoia Capital and Ascent Capital have sold their stakes in India-based payments technology company Citrus Pay as part of the company’s 100 percent acquisition by PayU, a global online payment service provider owned by South Africa-based internet company Naspers, for US$130 million. Sequoia reportedly sold a 32 percent stake in the company, generating a 4x cash multiple; Ascent Capital reportedly sold an eight percent stake for approximately US$12 million.