In December, Wichita-based King Capital announced that it had acquired the company’s business, Kings Capital, for $1.25 billion in cash and stock.
The deal, which the company called “the largest single-family transaction in the history of Wichita’s entrepreneurship industry,” saw the acquisition of a global business that had raised over $1 million in venture capital from more than 40 investors, including such names as Peter Thiel, Jack Ma and Jeff Bezos.
The acquisition is expected to help Kings Capital achieve its long-term goals.
According to a news release, King Capital had been in talks with other prospective private equity investors for the past three years, and has been in discussions with investors in recent months.
Kings Capital is one of the first Indian companies to raise a seed round in the U.S. in recent years.
The company’s founders and founders were also among the founders of the ecommerce platform Shopify and are also the founders and co-founders of the mobile app Shazam.
Kings’ founders said in a statement that they are extremely excited about working with King Capital, and that they look forward to building on the strong partnership they established with the City of Wichita.
Kings will continue to focus on its core business, which is the provision of technology and services to entrepreneurs and small businesses, including financial services, tax preparation and estate planning.
Kings Capital will be working with the Wichita-area Chamber of Commerce to expand Kings Capital’s network of local, regional and national memberships and partnerships.
In addition, Kings will also partner with the King Capital Foundation, a charitable organization focused on advancing entrepreneurial success in India and globally.
Kings CEO and founder Peter Thiel said that Kings Capital has already been instrumental in helping to create and scale a number of entrepreneurial programs in the region, including the King Prosperity Grant, a program that has given over $2 million to entrepreneurs.
“We will continue partnering with Kings Capital in order to build the growth and success that our founder and team of entrepreneurs envision,” Thiel said.
“We are excited to see Kings Capital continue to be the incubator for the growth of innovative startups in India.”
King Capital has been around since 2003, and currently has more than 200 employees and a growing presence in India.
The venture capital firm was established in 2014, with Thiel as the first investor.
Kings’ business is now valued at $1,250 million, which Thiel says he intends to use to expand the company.