Baron Capital marks up Swiggy’s valuation by 25% to $15.1 billion

US-based asset management company Baron Capital has marked up the fair value of its stake in food delivery platform Swiggy by about 25% to $109.2 million as of March 31, from $87.2 million in the preceding quarter, as per its latest quarterly report. This puts Swiggy’s valuation at $15.1 billion, 25% higher than Baron’s previous valuation of $12.1 billion.

In the March quarter, Swiggy was among the top ten holdings in Baron Capital’s emerging markets fund, which also has Taiwanese chipmaker TSMC, Samsung Electronics, Tencent Holdings, Alibaba Group, along with India’s Reliance Industries and Bharti Airtel, among others.