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Private Equity &
Venture Capital

Private equity investments in India are subject to a complex web of regulations. The law on this subject is evolving constantly and structuring of private equity transactions is getting more and more complex and sophisticated by the day. Our lawyers possess extensive knowledge and understanding of the key issues that our clients may face. This enables us to provide our clients with bespoke solutions and creative strategies. We have both the technical as well as practical expertise to meet the requirements of our clients and their business necessities.

We have regularly advised clients on venture capital and private equity investments. We have acted for private equity funds and other alternative investment funds, as well as for the investee companies. We have advised our clients from the stage of initial investment until exit, advising on structuring the transaction, negotiating and drafting definitive documentation, undertaking legal due diligence and offering guidance on a wide range of legal and commercial issues. We have advised on series A, B & C level as well as growth capital. We have also advised for minority stake as well as on control deals.

Apart from advising on various private equity transactions, we also advise on the structuring and setting up of private equity funds and other alternative investment funds in accordance with the rules and regulations issued by the Securities and Exchange Board of India.

We employ a multi-disciplinary approach while advising our clients, offering our expertise across a wide range of disciplines.

Select Experiences

  1. Advised fintech unicorn, CRED (Dreamplug Technologies Private Limited), on raising USD 140 million in its Series F funding round with a post money valuation of USD 6.4 billion.
  2. Advised Infra.Market (a construction materials solutions firm) on raising USD 121 million in fresh funding at a valuation of about Rs. 24,147 crore (nearly USD 2.8 billion) in pre-IPO funding.
  3. Advised an institutional investor in its investment in ChrysCapital X, a $2.2 bn fund. It is the largest private equity fund ever raised by an India focused firm.
  4. Advised Valuedrive Technologies Private Limited (Spinny) across multiple fundraises, including its Series F fundraise of approximately USD 170 million and its Series G fundraise of approximately USD 170 million.
  5. Advised MedGenome Inc. (MedGenome), a Bengaluru based genetic diagnostics, research and data company, on its USD 50 million Series D fund raise, led by Novo Holdings.
  6. Advised Accel, a leading global venture capital firm, on its investment in Stanza Living (Dtwelve Spaces Private Limited), a managed accommodation platform for students and working professionals relocating to new cities.
  7. Advised South Korea based Krafton Inc. on its OCD investment in Nasadiya Technologies Private Limited (Pratilipi), as a part of its USD 48 million fundraise.
  8. Advised health and wellness platform, Cult.fit (Curefit Healthcare Private Limited), on its Series G fundraise of approximately INR 440 crore from Temasek, through its investment arm, MacRitchie.
  9. Advised UAE-based CE-Invests, the strategic investments platform of Crescent Enterprises, on its Series C investment in Flipspaces, a leading tech-first interior design and build company for commercial spaces operating across India and the USA.
  10. Advised Singapore-based Jungle Ventures on its USD 18 million investment in Waterfield Advisors, an independent wealth advisory and multi-family office.
Key Partners
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Key Partners

Aayush Kumar

Partner

Aayush is a Partner in the Corporate and M&A, Private Equity & Venture...

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Abhinav Bhalaik

Partner

Abhinav is a key member of the Private Equity, Mergers & Acquisitions and...

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Adity Chaudhury

Partner

Adity is well known for her expertise in corporate and commercial laws and has...

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Anantha Krishnan Iyer

Partner

Anantha is a Partner in the Corporate and M&A and Private Equity & Venture...

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Anindya Ghosh

Partner

Anindya is distinguished corporate law advisor with over 17 years of experience. He...

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Ankit Guha

Partner

Ankit’s practice focuses on private equity & venture capital and corporate...

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Arka Majumdar

Partner

Arka’s experience of over a decade in corporate transactions is both rich and...

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Armaan Patkar

Partner

Armaan is a Partner in the Firm’s Corporate and M&A, Private Equity &...

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Ashwin Krishnan

Partner

Ashwin Krishnan is a seasoned corporate and commercial lawyer with significant...

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Jaidrath Zaveri

Partner

Jaidrath Zaveri comes with experience in general corporate advisory, venture capital...

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Jitendra Soni

Partner

Jitendra is a technology and transactions lawyer based in New Delhi. As part of...

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Krishnava Dutt

Managing Partner

Krishnava is the Founder and Managing Partner of Argus Partners and sits on the...

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Neha Madan

Partner

Neha has over 14 years of experience and she advises various venture capital and...

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Pallavi Kanakagiri

Partner

Pallavi has over 15 years’ experience in advising clients on private equity...

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Tushar Thimmiah

Partner

Tushar is a part of the Corporate and M&A, Private Equity & Venture Capital...

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Vallishree Chandra

Partner

Valli is part of the Private Equity, Mergers & Acquisitions and Venture...

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Private Equity & Venture Capital

    1. Advised fintech unicorn, CRED (Dreamplug Technologies Private Limited), on raising USD 140 million in its Series F funding round with a post money valuation of USD 6.4 billion.
    2. Advised Infra.Market (a construction materials solutions firm) on raising USD 121 million in fresh funding at a valuation of about INR 24,147 crore (nearly USD 2.8 billion) in pre-IPO funding.
    3. Advised an institutional investor in its investment in ChrysCapital X, a $2.2 bn fund. It is the largest private equity fund ever raised by an India focused firm.
    4. Advised Valuedrive Technologies Private Limited (Spinny) across multiple fundraises, including its Series F fundraise of approximately USD 170 million and its Series G fundraise of approximately USD 170 million.
    5. Advised MedGenome Inc. (“MedGenome”), a Bengaluru based genetic diagnostics, research and data company, on its USD 50 million Series D fund raise, led by Novo Holdings.
    6. Advised Accel, a leading global venture capital firm, on its investment in Stanza Living (Dtwelve Spaces Private Limited), a managed accommodation platform for students and working professionals relocating to new cities.
    7. Advised South Korea based Krafton Inc. on its OCD investment in Nasadiya Technologies Private Limited (Pratilipi), as a part of its USD 48 million fundraise.
    8. Advised health and wellness platform, Cult.fit (Curefit Healthcare Private Limited), on its Series G fundraise of approximately INR 440 crore from Temasek, through its investment arm, MacRitchie.
    9. Advised UAE-based CE-Invests, the strategic investments platform of Crescent Enterprises, on its Series C investment in Flipspaces, a leading tech-first interior design and build company for commercial spaces operating across India and the USA.
    10. Advised Singapore-based Jungle Ventures on its USD 18 million investment in Waterfield Advisors, an independent wealth advisory and multi-family office.
    11. Advised Claypond Capital on its investment in Easy Home, a technology-based home loans platform focused on faster approvals and streamlined documentation. The investment formed part of Easy Home’s USD 30 million Series C fundraise.
    12. Advised Infra.Market (a building materials platform) on raising INR 732 Cr (approx. USD 83.1 million) in pre-IPO funding.
    13. Advised MedGenome on its Series E fundraise of approximately USD 47.5 million. The round was co-led by Maj Invest, along-with existing investor Novo Holdings and saw participation from Sofina Ventures, also an existing investor in MedGenome.
    14. Advised Intelligent Retail Private Limited (Ripplr), a technology driven distribution and supply chain platform, on its USD 45 million Series C fundraise.
    15. Advised Arkam Ventures and Fundamentum Partnership on their investment in TransBnk, a leading banking infrastructure platform, as part of TransBnk’s USD 35 million Series B fundraise.
    16. Advised Sukino Healthcare Solutions Private Limited, an out-of-hospital healthcare chain focused on post-acute and rehabilitative care, and its promoters on its USD 31 million Series B fundraise.
    17. Advised OAKS Asset Management and Plutus Wealth Management in the Series B Funding of USD 30 million raised by CredAble (a fintech platform that provides working capital financing to corporates across Asia in payable and receivables financing, debt capital markets and SME financing).
    18. Advised electric vehicle charging infrastructure startup, Exponent Energy on raising USD 26.4 million in a Series B round led by Eight Roads Ventures.
    19. Advised Jungle Ventures on its investment in Escape Plan, a travel products-focused retail platform. Escape Plan has raised a cumulative USD 25 million as part of its Series A fundraising.
    20. Advised pharmacy start-up, Zeno Health on its USD 25 million Series C funding round.
    21. Advised HouseEazy an online marketplace for resale homes, on their USD 16.9 million Series B fundraise.
    22. Advised Whiteboard Capital Fund in relation to its participation in USD 16 million Series A funding round of Octopolis Technologies Private Limited, which operates a B2B platform for FMCG products under the brand ‘ApnaKlub’.
    23. Advised Together Fund in data privacy start-up, Privado’s, fundraise of USD 14 million (INR 111 crore) in its Series A round.
    24. Advised Turno (Blubble Private Limited), a commercial electric vehicle distribution and financing platform, on its USD 13.8 million Series A fundraise.
    25. Advised 360 ONE Asset and Narotam Sekhsaria Family Offices on their Series B investment in Two Brothers Organic Farms (TBOF), a Maharashtra-based organic food brand. TBOF has raised USD 12.4 million as part of its Series B round.
    26. Advised Fitterfly Healthtech Private Limited in its Series A1 round led by Amazon Smbhav and Fireside Ventures. Fitterfly raised USD 12 million in this round.
    27. Advised Accel, Blume Ventures and Kae Capital on their investment in Bengaluru-based wealthtech startup, PowerUp Money, as part of its USD 7.2 million Series Seed and USD 12 million Series A funding round.
    28. Advised Vedantu (an edtech platform) on raising USD 11 million in fresh capital from ABC World Asia, Accel India and Omidyar Network.
    29. Advised Together Fund on their investment in the SaaS buying and management platform, Spendflo. The investment was a part of Spendflo’s Series A fundraise of USD 11 million.
    30. Advised Spendflo Inc. and its promoters on their USD 11 million Series A fundraise.
    31. Advised Plutus Wealth Management in the Series B funding of INR 59.34 crores (USD 8 million) raised by Foodlink, a luxury catering company.
    32. Advised OAKS Asset Management in the Series A Funding of INR 55 crores raised by Troo Good (a Millet Paratha venture catering to schools and corporations).
    33. Advised Arkam Ventures on its investment in the Series A funding round of Smartstaff. Smartstaff has raised USD 6.2 million as a part of its Series A funding round.
    34. Advised Chiratae Ventures on its investment in TakeMe2Space. The company has raised approximately USD 5 million in the round led by Chiratae Ventures, with participation from existing investors Unicorn India Ventures, Artha Venture Fund and SeaFund.
    35. Advised Attentive.ai, an artificial intelligence-based SaaS (software as a service) startup, on raising USD 5 million from Sequoia’s Surge fund and InfoEdge Ventures.
    36. Advised Kotak Investment Advisors Limited on their investment in Strata, a Bengaluru based real estate investment start-up, in their recently concluded Series A fund-raising of USD 5 million.
    37. Advised Mynvax, a vaccine technology startup, when it raised approximately USD 4.2 million in its Series A funding round led by Accel and other investors.
    38. Advised Chennai based robotics start-up Detect Technologies in their Series A fund raise of USD 3.3 million from SAIF Partners Indian VI Limited, Bharat Innovation Fund, Axilor Investment Trust, and certain existing shareholders.
    39. Advised Whiteboard Capital Fund on ONWO’s seed funding round of USD 1.6 million.
    40. Advised Datasigns Technologies Private Limited in connection with a pre-series A funding of USD 1.5 million from Pravega Ventures Trust, SRI Capital LLC, BEENEXT2 Pte. Limited and Saama Capital IV Limited.
    41. Advised Manch Technologies Private Limited, a SaaS-based zero-coding digital transformation platform, on their pre-Series A fund-raising of approximately USD 1.1 million led by Bharat Inclusion Seed Fund and Pentathlon Ventures.
    42. Advised TDK Ventures and British International Investments Plc on their Series A investment in Fasal (Wolkus Technologies Private Limited).
    43. Advised Kotak Pre-IPO Opportunities Fund on its investments in Pharmeasy (API Holdings Limited), Dailyhunt (Ver Se Innovation Private Limited), Licious (Delightful Gourmet Private Limited), MPL (M-League Pte Limited); and Swiggy (Bundl Technologies Private Limited) and Flipitnews (Entroq Technologies Limited).
    44. Advised Amazon.com NV Investment Holding LLC in relation to its investment in Acko Technologies (100% holding company of Acko General Insurance).
    45. Advised Jungle Ventures on its investment in Showroom B2B and Sanlayan Technologies Private Limited.
    46. Advised Krafton Inc. on co-leading an investment in Deftouch Interactive Art Pvt. Ltd. to expand its gaming portfolio, develop new games, and hire talent.
    47. Advised HDFC Limited on its investment in HDFC Capital Affordable Real Estate Fund – 3 (H-CARE-3).
    48. Advised Accel on its Series F investment in Bounce (WickedRide Adventure Services Private Limited), a full-stack B2B electric vehicle rental platform focused on last-mile delivery for India’s gig economy.
    49. Advised HDFC Limited on its agreement to sell 10% of the fully diluted paid-up share capital of its wholly owned subsidiary, HDFC Capital Advisors, to an affiliate of the Abu Dhabi Investment Authority (ADIA).
    50. Advised V’Ocean Investments, advised by OAKS Asset Management, on the Series B fund raising by Hero Electric Vehicles Private Limited.
    51. Advised Whiteboard Capital on its stake sale in Dezerv to Premji Invest, Elevation Capital, Matrix Partners (aka Z47) and Accel.
    52. Advised Moving Tech Innovations Private Limited (Namma Yatri) on its convertible bridge fundraise from several investors, including Blume Ventures and Antler.
    53. Advised Malabar Investments in its investment in boAt (Imagine Marketing Limited).
    54. Advised SolarSquare Energy Private Limited on its Series A funding round led by Elevation Capital and Lowercarbon.
    55. Advised BazaarNow, a quick-commerce startup, and its founders on its funding round led by Peak XV Partners.
    56. Advised Arkam Ventures on its investment in Mirana Toys, a vertically integrated toy tech startup, as part of its Series A funding round.
    57. Advised Kotak India Growth Fund II, Kotak India Private Equity Fund and Kotak Investment Advisors Limited on their exit by selling their entire stake in Prolifics Corporation Private Limited to Sysquest Private Limited.
    58. Advised Alkemi Venture Partners on its investment in Arctern Healthcare Private Limited, which operates under the brand name ‘Meddo’.
    59. Advised Ecotrail Personal Care Private Limited on their investment into Addvantis Enterprises LLP.
    60. Advised TR Capital II L.P, TR Kariba Secondary 5 and TR Kariba Secondary 6 on their purchase of Flipkart shares from IDG India Ventures I LLC.
    61. Advised Bharat Innovation Fund and Parampara Early-Stage Opportunities Fund on their primary investment into Entropik Technologies Private Limited.
    62. Advised Wildcraft India Private Limited with respect to Primary Investment by Flipkart’s affiliate (“Quickroutes International Private Limited”) into Wildcraft India Private Limited.
    63. Advised TheMathCompany and its promoters on its capital raise from venture capitalist, Arihant Patni.
    64. Advised Eyestem Research Private Limited, a Bengaluru based company in connection with its fundraising from Endiya Partners.
    65. Advised iDO Devices on its fundraising from Blume Ventures and Merak Ventures.
    66. Advised Infinx group and its promoters (an AI-driven healthcare revenue cycle solutions provider) with respect to the primary equity investment by Kohlberg Kravis Roberts (“KKR”) and Norwest Venture Partners in Infinx.
    67. Advised the founders and management team of PeopleStrong, a leading human capital management SaaS provider, on the stake sale by Multiples P.E. to the private equity business of Goldman Sachs Alternatives for USD 130 million.