Private equity and investment funds in India
Premier names in the investment funds market retain AZB & Partners to handle high-value fund formation projects. Co-head Ashwath Rau and Pallabi Ghosal field expertise in handling fund establishments for domestic and international clients in the healthcare and infrastructure fields while Sai Krishna Bharathan is a go-to partner in the real estate funds space. Distressed fund ventures, mezzanine finance arrangements and offshore structures are all advised on. The extensive bench of private equity experts, which includes co-heads Zia Mody, Ajay Bahl, Gautam Saha and Darshika Kothari, regularly handles high-value downstream transactions for market-leading private equity funds, as well as assisting with portfolio company management and exits.
Brookfield Asset Management
ECP III Ventures
Sequoia Pine Investment Holdings
BCP V Multiple Holdings
Tiger Global Management
KKR & Co Inc.
Reco Altius (a wholly owned subsidiary of GIC of Singapore)
IFC – Restructuring of India Resurgence Fund, L.P.
Tata AIA Life Insurance Company Ltd.
CDPQ Fixed Income X INC., acting through CDPQ
Avendus Future Leaders Fund I
BASF Venture Capital GmbH
BOLD Business Opportunities for L’Oréal Development
Blacksoil Asset Management
- Advised Carlyle on its acquisition of up to 74% stake in SeQuent Scientific Limited, a listed animal healthcare company, for approximately $208m.
- Advised KKR Singapore on the acquisition of 100% of the equity share capital of five target companies from Shapoorji Pallonji Group.
- Advised CDPQ, on its partnership with Piramal Enterprises Limited, to set up a $300m platform, Piramal Structured Credit Opportunities Fund (an AIF) for targeting private credit financing opportunities in India across various sectors, including manufacturing, consumer, healthcare, chemicals, pharmaceuticals, and logistics among others.
Ravindra Bandhakavi heads the private equity practice at Cyril Amarchand Mangaldas, handling transactions for global funds clients operating in the financial services sector, and sovereign wealth funds in the infrastructure sector. Shagoofa Khan leads a team handling fund formation and structuring, and also leads on fund of funds mandates. The team regularly advises on the establishment of AIFs, retail funds, joint venture funds, venture capital funds and distressed fund restructurings. In the REIT space, Arjun Lall recently advised on the restructuring, due diligence and acquisition of a real estate portfolio leading to a landmark listed REIT. The expansive bench of corporate partners, including co-heads Reeba Chako and Nivedita Rao, adds strength to the downstream investment phase.
Other key lawyers:
National Infrastructure and Investment Fund Limited
- Acted as the Indian advisors to the Brookfield Group in its $13.2bn global acquisition of Johnson Control Group’s power solutions business.
- Acted as Indian legal counsel to Stone Point Capital LLC, a private equity firm, in relation to its acquisition of Duff & Phelps, along with funds managed by another investor, Further Global from Permira Funds.
- Assisted members of the GVK Group in negotiating and executing definitive documents with subsidiaries of the Abu Dhabi Investment Authority (ADIA) and Public Sector Pension Investment Board (PSP), and the National Investment and Infrastructure Fund in acquiring a 79.1% stake in the client by way of a subscription to shares for an aggregate consideration of $1.3bn. approximately INR 7,614 Crores (USD 1.3 Billion).
Khaitan & Co LLP’s premier investment funds practice acts for some of the largest funds on the market on end-to-end formation and structuring across all asset classes. Siddharth Shah, Divaspati Singh, Vivek Mimani and principal associate Gaurita Udiyawar provide tax-forward advice on structuring funds both in India (including regional funds) and cross-jurisdictionally. Key names for private equity deals include practice head Haigreve Khaitan, Aakash Choubey, Ganesh Prasad and Kartick Maheshwari, who are retained by market-leading international financial sponsors including funds, banks, REITS, hedge funds and specialist secondary funds to handle high-value transactions. The firm maintains a highly comprehensive knowledge portal ‘Academia’, which makes cutting-edge legal knowledge available to all retained clients.
Other key lawyers:
Citiustech Healthcare Technology Private Limited
Sterlite Power Grid Ventures Limited
Advent India PE Advisors Pvt Ltd
JM Financial Asset Reconstruction Company Limited
Bharat Serums and Vaccines Limited and its promoters, the Daftary family
Promoter of Essel Propack Limited, i.e., Ashok Goel Trust and its affiliates
Temasek Holdings (Private) Limited
True North Managers LLP
RattanIndia Power Limited
Punjab National Bank
EverSource Advisors Private Limited
Harbourvest Partners (Asia) Ltd
Advent International Corporation
The Blackstone Group
Ola Electric Mobility Private Limited
ICG Strategic Equity Advisors LLC
Bhavish Aggarwal and Ankit Bhati, founders ANI Technologies Private Limited (“Company”) and ANI Technologies Private Limited
Bessemer Venture Partners and Bessemer India Capital Holdings II Ltd
Northern Arc Capital Limited
Meritz – Edelweiss Platform deal
Piramal Structured Credit Opportunities Fund
India Housing Fund – Series 2
Investment by the Canadian Pension Plan Investment Board (CPPIB) in India Resurgence Fund
- Advised the founder investors and Citiustech Healthcare Technology Private Limited in relation to the part sale of shares held by the founder promoters and the going-forward arrangement between the company, the founder investors and the purchaser.
- Advised advised Sterlite Power Transmission Limited – parent entity of Sterlite Power Grid Ventures Limited and current 100% owner of IGT’s investment manager, Sterlite Investment Managers Limited – on certain aspects in connection with the definitive agreement with Electron IM (a KKR entity) for investment by Electron IM in Sterlite Investment Managers Limited.
- Advised and successfully represented Milestone India Professional Investor’s Private Real Estate Investment Limited Liability Company, part of Mertiz Financial Group, South Korea, in relation to its investment in the units of Real Estate Credit Opportunities Fund, a Category II alternative investment fund managed by Edelweiss Alternative Asset Advisors Limited.
Nishith Desai Associates
Multinational investment vehicles retain Nishith Desai Associates’ top-tier funds practice for advice on the entire fund lifecycle. The ongoing work portfolio comprises multibillion-dollar private equity, venture capital, hedge and distressed funds, for which co-head Richie Sancheti, co-head Pratibha Jain and Nandini Pathak advise the funds’ general practitioners on formation, structuring, operation and exit strategy. Particularly impressive is the team’s handling of the creation of $1bn+ sovereign infrastructure funds for the central government. Advising on distressed funds in the real estate sector is another point of focus, while representation in limited partner negotiations and disputes is routinely supplied. The firm is also regarded for advising on and developing policies and regulations for industry regulators, both domestically and abroad.
Other key lawyers:
‘Has client dedication and strong trusted relationships with regulators and government.‘
‘Pratibha Jain is superb – calm, knowledgeable, relationship-oriented and always available to help. Her team goes beyond the call of duty to get things done.‘
National Investment and Infrastructure Fund Limited
Multiples Alternate Asset Management Private Limited
Omnivore Capital Management Advisors Private Limited
SWAMIH Investment Fund – I (SBICAP Ventures Limited)
Nuveen (A TIAA Company)
- Assisted National Investment and Infrastructure Fund Limited with the third and fourth closing/fundraising round of the National Investment and Infrastructure Fund, where OTPP, AustralianSuper participated in the third closing and CPPIB participated in the fourth closing.
- Assisted Multiples Alternate Asset Management Private Limited with (i) the structuring of Multiples Private Equity Fund III platform; and (ii) multiple closings/fundraising rounds with large institutional investors such as CPPIB, ADB, IFC, NIIF Fund of Funds.
- Assisted the Department of Economic Affairs, Ministry of Finance, Government of India with structuring the Special Window, setting up the first fund under it and advising on investmens into it. For the first fund, also worked with the Investment Manager SBICAP Ventures to assist with various legal, tax, structuring and regulatory aspects of the fund including documentation and registrations.
Trilegal provides expertise on the entire funds lifecycle for global fund managers and LPs, from initial formation to downstream transactions and exits. Co-head Harsh Pais advises on private equity transactions for a long list of pension funds and sovereign funds, having brought in new clients from Canada and Australia, while co-head Yogesh Singh is the go-to name for real estate and infrastructure investments. Distressed assets and fund restructuring engagements are spearheaded by Nishant Parikh. Further notable names on the team include Ganesh Rao and Aditya Jha, who add strength to the fund structuring (including the establishment of $1bn+ vehicles) and asset management offering.
Brookfield Asset Management
Ontario Teachers’ Pension Plan Board
Varde Partners Asia Pte. Ltd.
CDC Group Plc
Naspers Ventures BV
International Finance Corporation
Kotak Investment Advisors
Khazanah Nasional Berhad
- Represented Ontario Teachers’ Pension Plan Board and Australian Super on their investment in the National Investment and Infrastructure Fund (NIIF). The deal included a commitment to the Master Fund of NIIF, an agreement to co-invest in future investment opportunities and acquisition of a 25% stake in NIIF Limited, the manager of NIIF (which includes governance rights).
- Advised a consortium of investors on a majority stake in Mumbai International Airport Limited, including development rights in Navi Mumbai International Airport.
- Advised Kotak Investment Advisors Limited on setting up the fund and also in the investment made by investors to set up “Kotak Special Situations Fund”., targeting both pre-stress and distressed opportunities and financially support businesses to prevent them from entering insolvency.
ALMT Legal advises venture capital and private equity investors on fund formations, downstream investments and exit strategy. Practice co-head Dhanya Menon recently handled high-value investment transactions into the pharmaceuticals sector, while Aliff Fazelbhoy applied his extensive tax knowledge to multi-tranche investment structures and shareholder agreement negotiations in the sports and leisure sectors. Refinancing and bridge financing are also points of focus, with both investors and target companies in the retail and technology sectors recently enlisting co-head Statira Ranina to handle a suite of negotiations.
Other key lawyers:
‘The team is very approachable and works very collaboratively with the clients. We work with them across multiple businesses and different functionalities and everyone has a pleasant experience regardless of designation or role.‘
Ascent Capital Private Equity Trust (through its trustee Axis Trustee Services Limited)
Aquasail Distribution Company Private Limited
Innovation in Food and Agriculture Fund
Sanghvi Beauty and Technologies Private Limited
August Jewellery Private Limited
WRV II MauritiusandIndusAge Technology Venture Fund I
Akshayakalpa Farms and Foods Private Limited
SIDBI Venture Capital Limited
- Advised Sanghvi Beauty and Technologies Private Limited, a company involved in buying, selling, importing, exporting and distributing beauty, wellness and lifestyle products, and its promoter, Mr. Darpan Sanghvi on an investment transaction with Trifecta Venture Debt Fund.
- Advised Aquasail Distribution Company Private Limited on a strategic private investment in a company involved in the business of providing sailing products and services to retail and corporate clients in India.
- Acted as the legal counsel to Ascent Capital Private Equity Trust. The scope of work included drafting of definitive documents, reviewing the conditions of precedent and closing documents and negotiations with other party; and amendment of the articles of association of the target company.
Economic Laws Practice
Sujjain Talwar and Suhail Nathani, co-heads of Economic Laws Practice’s private equity and venture capital practice, are retained by sovereign funds, fund of funds and private equity clients operating in the infrastructure, healthcare, hospitality and construction sectors to handle fund formation, investment structuring and downstream transactions. Darshan Upadhyay fields expertise in managing investments in the aerospace sector while Tushar Ajinkya brings a wealth of technology sector experience to the team, bringing in clients from the fields of IT, digital security and software. The team advises on exit considerations and provides ongoing corporate assistance to portfolio companies.
Seven Islands Shipping Limited
IvyCap Ventures Trust – Fund II
Mayfield India II Limited
Multi-Act Trade & Investments Private Limited
Spoton Logistics Private Limited
- Advised IvyCap Ventures Trust – Fund II (IvyCap) in relation to investment by IvyCap in Biryani By Kilo by way of primary issuance of shares.
- Advised Spoton Logistics Private Limited, investee company of Samara Alternate Investment Fund, on an investment of INR215m in Raag Technologies and Services Private Limited by secondary purchase from the promoters.
- Advised Samara Capital on an investment in a holding company with a focus on duty free shops in Asia and the Middle East.
A number of new partner hires and promotions - including Manish Gupta and Mayukh Datta - further strengthened IndusLaw’s formidable private equity practice, which also includes key partners Suneeth Katarki and Gaurav Dani. The team advises both company promoters and investors on deal structuring, early-stage and late-stage investments, consolidation transactions and exits. Recent high-value engagements were in the energy, technology, pharmaceuticals, healthcare, retail and e-commerce sectors.
Avimukt Dar; Gaurav Dani; Kartik Ganapathy; Srinivas Katta; Suneeth Katarki; Nishant Singh; Pallavi Kanakagiri; Winnie Shekhar; Anindya Ghosh; Basava Rao; Anubha Sital; Divya Varghese; Jinni Sinha; Manish Gupta; Rashi Saraf; Revathy Muralidharan; Mayukh Datta
Ribbit Capital Mauritius IV
Nexus Venture Partners
Wickedride Adventure Services Private Limited
RTP Global Investment
CDH Vision Fund
Vitalic Health Private Limited (Netmeds)
Sunshine Teahouse Private Limited
RKSV Securities India Private Limited
Pocket Aces Private Limited
Qualcomm Asia Pacific Pte. Ltd
Dunzo Digital Private Limited
Lisbrine Pte. Limited
Vertex Growth Fund
Aye Finance Private Limited
Roppen Transportation Services Private Limited
Montane Ventures Private Limited
Exfinity Technology Fund
- Advised OYO in relation to funding into it from Softbank Vision Fund and RA Hospitality Holdings.
- Advised Ribbit in relation to its investment into Dreamplug Technologies Private Limited along with multiple investors including SCI Investments V (“Sequoia”), Gemini Investments L.P. (“Gemini/DST Global”), RTP Global Investments Limited (“RTP Global”) and others.
- Advised Wickedride Adventure Services Private Limited (“Bounce”), Accel India V (Mauritius) Limited, ON Mauritius, Qualcomm Asia Pacific Pte. Ltd in relation to investment into Bounce along with other investors.
J Sagar Associates
J Sagar Associates is retained by a substantial roster of fund managers for advice on onshore and offshore fund structuring, downstream investments and exits. Practice co-head Vikram Raghani is advising lead investors in the retail, ITES, healthcare and renewable energy sectors on high-value transactions. Portfolio companies and company promoters also engage the team on inward investments; co-head Aarthi Sivanandh is a go-to name on this side. Further sectors of focus include oil and gas, agriculture and technology.
Baring Private Equity Asia
Suryoday Small Finance Bank Limited
Oman India Joint Investment Fund
ANI Technologies Private Limited
Prestige Estates Projects Limited
Multiples Alternate Asset Management Private Limited
eBay Singapore Services Pte Ltd
Affirma Capital (formerly SCB PE)
Iron pillar fund
Northwest Venture Partners
Unitus Seed Fund II
Good Capital Fund I
Vikara Services Private Limited
- Advised Baring Private Equity Asia on its $700 million acquisition of IT and ITES provider NIIT Technologies from NIIT Limited and its founders.
- Advised Indiabulls Real Estate Limited in divestment of its remaining stake of 50% in each of its joint venture companies to entities controlled by the Blackstone Group.
- Advised Baring Private Equity Asia in relation to its acquisition of an 80% stake in CitiusTech Healthcare Technology Private Limited.
The investment funds team at L&L Partners Law Offices advises venture capital firms, hedge funds, private equity funds, mezzanine funds and infrastructure funds on structuring investment vehicles, including sector specific funds such as technology, healthcare, infrastructure and real estate.
Shardul Amarchand Mangaldas & Co
Jay Gandhi is the key name at Shardul Amarchand Mangaldas & Co for investment fund formations and structuring, while Raghubir Menon is the regional practice head for private equity transactions. The team is retained by a diverse list of sovereign wealth funds, private equity investors, hedge funds, venture capital funds and infrastructure finds.
Begur & Partners
DSK Legal’s corporate partners are retained by a solid list of investment fund managers and limited partners from the Indian market and across the APAC region to handle fund formation, management, and exits. Key partners Aparajit Bhattacharya and Hemang Parekh also act for subsequent portfolio companies, while also advising on fund/investee disputes. The addition of private equity investors and AIFs in renewable energy, infrastructure, healthcare, and manufacturing to the client roster broadened the team’s sector knowledge. Deputy managing partner Sajit Suvarna is a leading name for real estate funds, including complex hybrid debt structures.
Other key lawyers:
Prestige Hospitality Ventures
ICICI Venture Funds Management
National Investment and Infrastructure Fund
Hero Electric Vehicles Private Limited
Korea Investment Partners
VKL Seasoning Private Limited
Manash Lifestyle Private Limited
Trust Investment Advisors
Shapoorji Pallonji Real Estate Fund
India Alternatives Private Equity
S. J. Healthcare Private Limited (Dentzz)
- Advised Hero Electric Vehicles and Munjal Family on follow-on investment into the company by way of primary subscription of compulsory convertible debentures by foreign venture capital fund through Alpha Capital Advisors Private Limited, and V’Ocean Investment Limited.
- Advised Manash Lifestyle Private Limited, a company incorporated in India, and the promoters of the company on investments by Goldman Sachs Asia Strategic and Verlinvest SA.
- Advised S J Healthcare Private Limited, S J Dental Clinics Private Limited, Dentzz Dental DMCC and the promoters of the companyieson investments by Culbro Helix Investments LLC.
Led by Akil Hirani, N. Raja Sujith and Rukshad Davar, Majmudar & Partners’ private equity practice is retained by Indian and US-based funds operating in the manufacturing, pharmaceuticals and technology sectors. Ongoing engagements for the team include cross-border portfolio acquisitions, minority buyouts and exits. Tax-led advice on fund structuring is also provided to venture capital and private equity funds.
‘The team is well experienced and handled our legal requirements to our total satisfaction.‘
‘Raja Sujith is a total professional and well experienced.‘
Browndove Healthcare Private Limited
Accelerator Enterprise Private Limited
Sloki Technologies Private Limited
- Advised Bertram Capital on the acquisition of Perennials and Sutherland, LLC.
- Assisting Wynnchurch Capital on its proposed acquisition of a US-based group engaged in manufacture of steel flanges and having subsidiaries in Europe and India.
- Advised Browndove Healthcare Private Limited on the Bridge Investment by Dr. Ramesh Kancharla and Mrs. Rajini Meka.
A highly active firm in the venture capital space, Samvad Partners is retained by venture investor platforms, start-ups and growth companies alike to handle the full investment lifecycle, from Series A investments to exits. Co-heads Vineetha MG, Ashwini Vittalachar and Harish Narasappa each maintain a sizeable portfolio of domestic and international clients operating in the technology (including medtech, fintech and edutech), consumer electronics, insurance, leisure and healthcare industries. Co-head Neela Badami maintains a practice advising social impact funds while Natasha Mahajan is a go-to name for venture debt deals.
Other key lawyers:
‘They are diligent, thoughtful folks. Have the right balance on when to be high touch and when to be low touch with clients.‘
‘We work with Siddharth Seshan primarily. He has stood out among all the other legal professionals I have worked with on the following grounds: Knows his subject matter inside out; has an opinion on subjects outside his domain of expertise, hence has become my go to person to talk to on all legal topics even outside private equity.‘
‘Highly reliable and follows through on their stated word without requiring us to follow up on them.‘
Bank Open (Open Financial Technologies Private Limited)
Bharat Innovation Fund
Bizongo (Smartpaddle Technology Private Limited)
Deepak Fertilisers and Petrochemicals Corporation
DeHaat (Green Agrevolution Private Limited)
Delhivery Private Limited
Eight Roads Ventures India III LP
Inventus (Inventus Advisory (Services) Private Limited Inventus Capital Partners Fund II)
Jumbotail Technologies Private Limited
Kaleidofin Private Limited
Kaycee Industries Limited
Lentra AI Private Limited
LocoNav (BT TechLabs Private Limited)
Next47 Fund 2020 LP (Siemens Investment Arm)
NoBroker Technologies Solutions Private Limited
ON Mauritius (Omidyar Network Mauritius)
Paisa Bazaar (Etechaces Marketing and Consulting
Policy Bazaar (Etechaces Marketing and Consulting Private Limited)
Saama Capital (Saama Capital India Advisors LLP)
Shiksha Finance (Shiksha Financial Services India
Treebo Hotels (Ruptub Solutions Pvt Ltd)
Trifecta Capital (Trifecta Venture Debt Fund – II)
Truebil (Paix Technology Private Limited)
Zapr Media Labs (Red Brick Lane Marketing Solutions Private Limited)
Zetwerk Manufacturing Businesses Private Limited
Zomato Media Private Limited
- Advised Inventus Capital Partners, one of Policybazaar’s early-stage investors, and Policy Bazaar, in relation to its partial exit from PolicyBazaar, by selling approximately 1.7% of its stake to SVF Python II.
- Advised (a) Deepak Fertilisers and Petrochemicals Corporation Limited in connection with issuance of foreign currency convertible bonds for an amount aggregating to up to $30m and (b) Smartchem Technologies Limited, a subsidiary of Deepak Fertilisers, in connection with issuance of compulsorily convertible debentures of $30m to International Finance Corporation.
- Advised Trifecta Capital on its $14.3m debt investment in Big Basket.
Bharucha & Partners advises on transactions for foreign private equity funds and target companies, with recent engagements in the sectors of food and drink, TMT and real estate. Practice head Vandana Pai is advising US-based private equity investors on high-value investments in the e-learning space and multinational AIFs on exits and sovereign fund sales in the infrastructure sector. Assistance with fund restructuring is also provided.
Macquarie Infrastructure & Real Assets
White Oak Capital
Global Innovation Fund
Vedantu Innovations Private Limited
International Containers & Terminals
Girnar Software Private Limited
63Ideas Infolabs Private Limited
VisVires Indian Wineries
Developing World Market
- Advised General Atlantic on its $110m investment in Unacademy (Sorting Hat Technologies Private Limited).
- Advised Vedantu Innovations Private Limited on its Series C, Series C extension, and Series C2 round of funding.
- Advised Ivanhoe Cambridge on its investment in India through the Logos platform.
Dua Associates taps into its sister consulting firm Dua Consulting to provide tax-forward fund structuring advice for domestic and international private equity funds. Practice head Manoj Menon advises on downstream transactions in the technology, renewable energy and e-commerce sectors. investors and target companies in food delivery and online education are retained, and real estate fund restructuring was also recently handled by the team.
Fourth Partner Energy Private Limited
Gokaldas Intimatewear Private Limited
Siana Capital Management LLP
Greater Pacific Capital
Mangrove Capital Partners
- Advised Fourth Partner Energy Private Limited and its wholly owned subsidiary on the financial facility of $50m advanced by Bank of America Merrill Lynch (acting through its Mumbai Branch).
- Advised the promoters of Hinduja Investments Private Limited and Gokaldas Intimatewear Private Limited on the sale of 100% of the shares held by them in the said companies to funds managed by Advent International Corporation.
- Advised on an investment by a fund managed by Greater Pacific Capital in the share capital of Enzen Global Solutions Private Limited.
The team private equity and investment funds practice at Fox Mandal is particularly active in the field of investment restructurings for local all international asset management companies. Private investors and fund managers in the real estate sector regularly engage the team to advise on the early-stage establishment of AIFs and investments into real estate developments. Investees also retain the team for assistance with unbound private equity deals in sectors including IT, pharmaceuticals and manufacturing.
‘The firm has a global view with qualified exposure to several key countries with the interests in India. The partners are very well versed with the latest developments in the industry, business and law. The team has unique and incisive expertise around their subjects specialisations.‘
‘The individuals have good knowledge of their respective subjects, very courteous, meticulous in vetting the relevant documents or analysing the issue and easily accessible.‘
Saisrushti Lakshmipura-1 Developments Private Limited
SAISRUSHTI (AKKUPETE) PROJECTS
Inventive Global Solutions
- Advised construction company Sai Srushti Group on investments was made by a registered AIF structured through multiple investment products, wherein partly it was invested in the form of different classes of compulsorily convertible debentures issued by the investee companies and partly as non-convertible debentures which were invested through a group entity.
- Advised investee Bayside Media on the proposed investment by private equity investors in multiple tranches, wherein the investment was structured through equity investment in the form of private placement and rights issuance.
- advising Karvy Capital on the restructuring of an investment which was undertaken in the year 2014 in investee company Greens Farm Tech.
The private equity team at Link Legal had recent successes in assisting international funds clients with establishing their India-based operations. Co-head Milind Jha handled exits for private equity clients operating in the real estate sector. On the target company side, Co-head Anuj Trivedi advised promoters in the fintech space on Series B investment rounds, while Co-head Venkat Satyanarayana maintains a high profile in the infrastructure and projects space and Nusrat Hassan is the go-to name in the financial services sector.
Ramky Enviro Engineers Limited
Hindustan Media Ventures Limited – part of HT Media Group)
Morningside Venture Capital
Qiming Venture Partners
Bright Lifecare Private Limited
Lightspeed Indian Partners
Ami Lifesciences Limited
MedOps Technology Private Limited
Asha Impact, Info Edge and Sterlite Ventures
Falcon Edge Capital
- Advised Xiaomi Singapore in the Series B1 investment of $3m in Talent Unlimited Online Services Private Limited.
- Advised Chinese venture capital firm Qiming Venture Partners on its entry into the Indian market.
- Acted for Healthkart on its Series G Round of $25m investment by Belgium-based private equity fund Sofina Group.
Key names at S&R Associates’ venture capital and private equity practice include Rajat Sethi, Sandip Bhagat, and Sanjeev Adlakha, who act for investors and target companies on minority investments, PIPE transactions, fund restructuring, and exits. Recent highlights were in the infrastructure, real estate, and education sector, while newly elected partner Prachi Goel has a focus on the financial services sector, having recently provided advice on follow-on investment rounds into fintech companies.
- Advised IRB Infrastructure Developers Limited on investments into the company by affiliates of GIC, Singapore’s sovereign wealth fund.
- Advised Aakash Educational Services Limited on its sale of 37.5% of its equity shares for an aggregate consideration of INR13.5bn and investments in 100% of its DVR shares by private equity funds managed by Blackstone.
- advised Everstone, the seller and promoter of Indostar Capital Finance, on Brookfield Business Partners’ proposal to invest INR14.5bn in IndoStar Capital Finance Limited.
Recent highlights for the private equity team at Tatva Legal saw practice heads Manav Nagaraj and N. K. Dilip provide advice to impact investors on follow-on transactions in the healthcare, fintech, real estate and education sectors. Assistance with the establishment of AIF platforms in provided, and the team also provides advice to target companies - including established and growth-stage technology companies - on inward investments by global financial sponsors.
Lightstone Global Fund
Accion Frontier Inclusion Mauritius
Manipal Health Enterprises Private Limited
Healthmap Diagnostics Private Limited
Stempeutics Research Private Limited & MEMG Family Office LLP
Aaruha Technology Fund
Aspada Investment Company
Ideaspring Capital Future Now
Start 2 Scale Venture LLP
Accion Quona Inclusion Fund L.P
- Dunzo Digital Pvt. Ltd. raised funds from Lightbox venture, 3L Capital and others. Tatva Legal acted as advisor to Aspada Investment Company which is an existing investor. Reviewed and negotiated transaction documents.
- North Haven India Infrastructure Fund invested in Healthmap Diagnostics Pvt. Ltd. to acquire a significant stake Documentation, negotiation and closure of the transaction.
- Accion Quona inclusion Fund L.P being an existing investor acquired additional stake in Primrose Hill Ventures Pte. Ltd. Review of the transaction documents and finalisation of the deal Accion Quona invested USD 1.6 million as a part of entire investment amount invested by 5 investors includuing Accion Quona.
Veritas Legal has an expanding roster of private equity investors, including high-profile global players, for which department heads Abhijit Joshi and Nandish Vyas recently assisted with private equity investments in the cosmetics, food and drink and FMCG sectors. The practice also advises company promoters on primary investments and funding rounds across a broad range of sectors including retail cybersecurity and fashion.
A91 Emerging Fund
Provenance Land (Owners Of The Four Seasons Hotel)
House Of Masaba
- Acted for and advised Goldman Sachs in relation to is primary investment in Manash Lifestyle Private Limited (Purplle) and the further Series C investment into Purplle by Verlinvest.
- Joint advisor to Partners Group for the acquisition by KKR of a significant majority stake in Eurokids International and Euroschool International purchased from Gaja Capital and Partners Group.
- Handled a primary investment in securities and acquisition of securities from Hector Beverages Private Limited through secondary transactions for A91 Emerging Fund I LLP.
With an emphasis on the technology sector, Vertices Partners advises start-ups and mid-market growth companies on capital raising exercises and seed funding rounds. The team is also retained by company promoters in the real estate, manufacturing, education and pharmaceutical sectors. On the investor side, practice heads Vinayak Burman and Archana Kholsa Burman act for international funds in the venture capital space on downstream transactions and microfinancing initiatives.
‘Deep knowledge, thinks practically for the best outcome, no lesser than bigger names in industry.‘
‘Vinayak Burman gives a very personal touch and fights from your side. He has deep understanding and never gives up on the points which are of importance however tough it might be.‘
Loan Frame Technologies
Sindhuja Microcredit Pvt. Ltd.
Nordic Microfinance Initiative
NoBroker Technology Solutions Pvt. Ltd
GoQuest Media Ventures
- Acted for Loan Frame Technologies and its promoters in relation to an investment into the company by Gojo & Company Inc.
- Acted for Knight Fintech and its promoters in relation to an investment in the company by Seabright III Ltd.
- Acted for Nordic Microfinance Initiative Fund III KS in relation to the acquisition of a stake of Michael & Susan Dell Foundation and Bamboo Financial Inclusion Mauritius respectively in Svasti Microfinance Private Limited.
Recently established by ex-Trilegal founder Anand Prasad, AP & Partners retains a solid book of venture capital investors and promoters in the technology space (particularly e-commerce, edutech fintech) operating in the mid-market and start-up brackets. Prasad and co-heads Moksha Bhat and Arjun Sinha are currently advising asset managers on downstream investments and target companies on debt funding exercises and Series A investments.
InfoEdge India Limited
Cars24 Services Private Limited
Nayan Science and Technologies Private Limited
Teacher Tools Private Limited
Sunrise Mentors Private Limited
Mebigo Labs Private Limited
HealthAssure Private Limited
- Advising Cars24, an automotive-focused e-commerce and fintech platform, its debt fundraising exercise.
- Assisting InfoEdge India Limited/InfoEdge Venture Fund on all aspects of its proposed investments in Bulbulive, Intellihealth Solution, Firsthive Tech, Happily Unmarried, Kyte Technologies Inc, RoundOne Network and Medcords Heads Solution.
- Advised Kois Holdings on all aspects of its investment in Great Learning Education.
With a book of international private equity and venture capital funds (from jurisdictions including Germany and China) on the client roster, ATLAS LAW PARTNERS advises on investments and seed funding for start-ups and growth companies in the real estate, TMT, e-commerce and financial services industries. Practice head Niti Paul and Harry Chawla are the key contacts.
Other key lawyers:
Superkisan E-Commerce Private Limited
- Advised Fosun RZ Capital on its seed round investment in Dotpe Private Limited, a fintech start up. The round size was $8m.
- Advised Fosun RZ Capital on its pre-series A round investment in Trell Experiences Private Limited, a video blogging start up. The round size was $4m.
- Advised Deli CMF on its merger control filings before the Competition Commission of India (CCI) in relation to its acquisition of Series F preference shares in Delhivery Private Limited.
Archana Rajaram of Rajaram Legal is retained by domestic private equity and venture capital investors to handle investment portfolios comprising entrepreneurial companies in cutting-edge sectors such as fintech, edtech, new media, healthcare e-commerce, and other new technologies. The firm also advises company promoters on inward investments from high-profile investment fund platforms.
Matrix Partners India
Chiratae Trust (formerly IDG Ventures)
Sequoia Capital Investments
TR Capital Group
Five Star Business Finance Limited
Bombay Shaving Company
- Advised Matrix Partners on a $56m investment into Ola Electric.
- Advised Daily Hunt with its Series F fund raise from Goldman Sachs Asia Strategic Fund and Advent Management Belgium.
- Advised Lenskart Solutions Private Limited, Chiratae Trust and Unilazer Venture Private Limited on a $225m investment by Softbank.
The technology-focused private equity and venture capital team at Spice Route Legal had an active year advising investors and target companies in the fintech, proptech, healthcare and renewables industries. Practice head Praveen Raju and Mathew Chacko are the key names, and the addition of Arun Jerome from Cyril Amarchand Mangaldas expanded the team’s presence in the traditional sectors of real estate, projects and infrastructure.
‘The team is very agile and customer centric.‘
Sequoia Capital India
Rahi Care Private Limited
Prestellar Ventures Fund 1 Pte. Ltd.
Ronin Wines Private Limited
Plutonomic Savtech Pvt. Ltd.
Aapkapainter Solutions Pvt. Ltd.
- Acted as global counsel to Helix regarding its investment in SJ Healthcare (Dentzz), a dental chain in India and the UAE that brings cutting-edge dental technology to what is an under-served market.
- Advised SETU on a $15m fundraising round from Falcon Edge Capital, Light Speed Ventures and Bharat Seed Fund.
- Advising Foundamental GmbH on a number of proptech and logistics investments in India, Singapore and Indonesia.