Chinese venture capital (VC) firm Shunwei Capital has exited Twitter’s homegrown rival Koo, the Indian micro-blogging platform said on Wednesday. Shunwei Capital has given up its minority stake in Bombinate Technologies, the parent company of Koo. Former Indian cricketer Javagal Srinath, Bookmyshow founder Ashish Hemrajani, Udaan co-founder Sujeet Kumar, Flipkart CEO Kalyan Krishnamurthy and Zerodha founder Nikhil Kamath participated in the buyout of Shunwei’s stake.

“As stated earlier, we had been in discussion with Shunwei Capital to enable a smooth exit after it had invested in our company 2.5 years ago while we were raising funds for Vokal. It has now fully exited the parent company Bombinate Technologies,” said Aprameya Radhakrishna, co-founder and chief executive officer of Koo. Shunwei Capital had held a bit more than 9 per cent in Bombinate Technologies. In February, Radhakrishna had said that Shunwei was on its way out. Koo’s investors include 3one4 Capital, Kalaari Capital and Blume Ventures.

Koo shot to fame amidst Twitter’s standoff with the government in February this year. That led to prominent government organisations, like the Ministry of Electronics and Information Technology MyGov, Digital India, India Post, National Informatics Centre, National Institute of Electronics and Information Technology, and Bollywood actor Kangna Ranaut, among others, joining Koo.

As the company gained followers, it came under the scanner for Chinese investors, like Shunwei Capital. In February, CEO Radhakrishna clarified that Shuwnei had held a single-digit stake and had since expressed that they were on the way out.

Chinese investors have been diluting their stake in Indian startups amid a wider anti-China sentiment after the last year’s border clashes and subsequent regulatory changes in foreign investment coming in from the neighbouring country.