29 June 2021
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INVESTMENT IN KUTUMB
Community focused networking app Kutumb, owned by Bengaluru based Primetrace Technologies, has raised about Rs 207.4 crore led by alternative investment firm Tiger Global Management.
Sequoia Capital India’s Surge Ventures II, an existing investor, invested about Rs 7.5 crore in the said round.
Role: Jerome Merchant + Partners, Mumbai advised Surge.
Members of JM+P team: The team was led by Partner Sameer Sibal along with Associates Ashutosh Merchant and Koustubh Athawale.
Other Legal Advisor 1: Algo Legal advised Primetrace Technologies and its founders, led by Partner Ankit Guha, Associate Partner Shabareesh Suresh and Associate Savio Tom.
Other Legal Advisor 2: AZB Partners advised Tiger Global Management
Deal Date: June 2021
Link of Coverage: https://www.techcircle.in/2021/06/21/tiger-global-leads-28-mn-funding-in-community-networking-platform-kutumb/
Practice Area of transaction : PE / VC
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Investment in Firstprinciple AppsforBharat Private Limited
Firstprinciple AppsforBharat Private Limited (“AppsforBharat”) is a private limited company engaged in the business of providing and operating software services, via mobile applications or other online platforms, to (a) offer religious, astrology, horoscope, spirituality, wellbeing and meditation related services/ offerings to users; and (b) offer livestreaming or video offerings to users in relation to religion, astrology, horoscope, spirituality, wellbeing and meditation; and (c) provide retail offerings (including ecommerce and offline) in relation to religion, astrology, horoscope, spirituality, wellbeing and meditation, including ayurvedic products. AppsforBharat has raised from SCI Seed Investments II, Beenext Emerging Asia Pte Ltd, and WEH Ventures II for an aggregate amount of INR 25,77,00,366.
Role: Jerome Merchant + Partners, Mumbai advised Beenext Emerging Asia Pte Ltd and SCI Seed Investments II.
Members of JM+P team: The team was led by Partner Vishnu Jerome along with Associates Komal Parakh, Sonali Hirani and Shruti Vijayakumar.
Other Legal: Algo Legal advised AppsforBharat.
Deal Date: April, 2021
Link of Coverage: – https://entrackr.com/2021/05/exclusive-sequoia-and-beenext-set-to-lead-4-mn-in-appsforbharat/;
https://www.techinasia.com/sources-sequoia-beenext-pour-4m-indian-spiritual-tech-startup;
Practice Area of transaction : PE / VC
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PURCHASE OF SHARES OF POLICY BAZAAR BY IIFL FROM TRUE NORTH
IIFL SPECIAL OPPORTUNITIES FUND acquired shares in insurance aggregator Policybazaar’s parent entity PB Fintech Private Limited (previously known as Etechaces Marketing and Consulting Private Limited) from existing shareholder True North Fund V LLP for approximately INR 72 crores.
Role: Jerome Merchant + Partners, Mumbai advised IIFL
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta and Gayathri Kamath.
Other legal advisors: Junaira Rahman, Riddhima Murjani and MV Abhinaya from Samvad
Partners advised the Company PB Fintech Private Limited
Mahesh Wasadikar and Naimi Kamdar from Cyril Amarchand Mangaldas advised True North
Deal Date: April 2021
Link of Coverage: https://economictimes.indiatimes.com/tech/funding/policybazaar-rejigs-cap-table-with-a-45-mn-round-at-2-4-bn-valuation/articleshow/81301551.cms?from=mdr
Practice Area of transaction: PE
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INVESTMENT IN CAR TRADE BY IIFL AND MALABAR
MXC Solutions India Private Limited (Car Trade), which operates as a automobile classifieds portal ahead of the planned IPO, raised approximately Rs. 184 crore in an equity financing round led by IIFL Special Opportunities Fund and four Malabar funds.
Role: Jerome Merchant + Partners, Mumbai advised IIFL
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta and Gayathri Kamath.
Other legal advisors: Ekta Jhangu and Radhika Bhatt from Wadia Ghandy & Co advised Car Trade
Deal Date: April 2021
Link of Coverage:
https://epaper.livemint.com/Home/ShareArticle?OrgId=1347e1a77d9
Practice Area of transaction: PE
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INVESTMENT IN KOO BY IIFL
Koo (Bombinate Technologies Private Limited) , a microblogging platform operating as India’ s home grown alternative to twitter raised USD 30 million in the Series B funding round led by Tiger Global in which IIFL venture capital fund Mirae Asset Management, 3one4 Capital, Accel and Blume Ventures participated.
Role: Jerome Merchant + Partners, Mumbai advised IIFL
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta and Gayathri Kamath.
Deal Date: May 2021
Link of Coverage: https://economictimes.indiatimes.com/tech/funding/amid-twitter-india-turmoil-koo-app-raises-30-million-at-six-times-valuation/articleshow/82946443.cms?from=mdr
Practice Area of transaction: PE
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PURCHASE OF SHARES OF DAILY HUNT BY IIFL FROM MATRIX PARTNERS
IIFL Special Opportunities Fund and IIFL Seed Ventures Fund acquired shares in News and content aggregator and India’s first tech unicorn Daily Hunt (Ver Se Innovation Private Limited) from existing shareholder Matrix Partners for approximately INR 182 crores.
Role: Jerome Merchant + Partners, Mumbai advised IIFL
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta, Ashutosh Merchant and Gayathri Kamath.
Other legal advisors: Prasad Subramanyan and Nikita Rajwade from Rajaram Legal advised Matrix Partners
Deal Date: April 2021
Link of Coverage: –
Practice Area of transaction: PE
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INVESTMENT IN RENEWBUY BY IIFL, APIS AND GCP
RenewBuy (D2C Consulting Services Private Limited), a digital insurance platform raised USD 45 million (approximately 330 crores) in the Series C funding round from IIFL India Private Equity Fund, Apis Growth II (Rose) Pte. Ltd. And Growth Catalyst Partners LLC
Role: Jerome Merchant + Partners, Mumbai advised IIFL as well as existing investors, Amicus Capital
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta, Kaustubh Athavale and Gayathri Kamath.
Other legal advisors: Probal Bhaduri, Nishant Arora and Tanisha Gupta from PDS Legal advised the Company
Vishruta Kaul and Sonali Bhardwaj from Shardul Amarchand Mangaldas advised existing shareholders Lok Capital and Sundamram
Link for coverage: https://economictimes.indiatimes.com/industry/banking/finance/insure/uks-apis-partners-and-others-invest-45-million-in-renewbuy/articleshow/83612030.cms?from=mdr
Deal Date: June 2021
Link of Coverage: –
Practice Area of transaction: PE
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INVESTMENT IN LITTLE LAUREATES
Aavishkaar Capital backed Little Laurates received additional funding from Aavishkaar India Capital II of approximately 40 crores which will be utilized by Little Laureates to expand its business of providing digitally enabled virtual classes for pre-primary education .
Role: Jerome Merchant + Partners, Mumbai advised Aavishkaar
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta, Gayathri Kamath and Aviva Jogani.
Deal Date: : June 2021
Link of Coverage: –
Practice Area of transaction: PE
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INVESTMENT IN BYJU’S BY IIFL
Ed tech company and one of India’s most valued start up Byju’s (Think & Learn Private Limited), raised USD 35 million (approximately INR 255 crores) in the Series F funding round from IIFL Special Opportunities Fund and IIFL Monopolistic Markets Fund.
Maitri Edtech also participated in this round and invested USD 15 million.
Role: Jerome Merchant + Partners, Mumbai advised IIFL
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta, Akshay Dixit and Gayathri Kamath.
Other legal advisors: Pranav Raju from Shardul Amarchand Mangaldas advised the Company.
Deal Date: June 2021
Link of Coverage: –https://economictimes.indiatimes.com/tech/funding/byjus-raises-50-million-in-series-f-round-led-by-iifl/articleshow/83715676.cms
Practice Area of transaction : PE
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INVESTMENT IN SMARTEXPRESS BY IIFL AND SMITI
Smart Express Private Limited, a company providing logistics and delivery solutions raised INR 47.5 crores from IIFL India Private Equity Fund alongwith co-investor Smiti Holding and Trading Company Private Limited
Role: Jerome Merchant + Partners, Mumbai advised IIFL
Members of the JMP Team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta and Gayathri Kamath.
Other legal advisors: Tushar Ajinkya, Ankita Kashyap and Pooja Tada from Think Law advised the Company.
Deal Date: June , 2021
Link of Coverage: –
Practice Area of transaction : PE
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INVESTMENT IN GRAYQUEST EDUCATION FINANCE PRIVATE LIMITED
Grayquest Education Finance Private Limited, operating under the brand name GQ, raised approximately INR 5 crores from 25 investors including Fintree Finance Private Limited, Nine Advisors Private Limited, Astra Industries and Trading Private Limited and others.
Role – Jerome Merchant + Partners, Mumbai advised the Company (Grayquest Education Finance Private Limited)
Members of JM+P team: The team was led by Partner Sameer Sibal along with Associates Rishabh Amber Gupta, Gayathri Kamath and Aviva Jogani.
Deal Date: June 2021
Link of Coverage: –
Practice Area of transaction : PE
For further information, please contact:
Vishnu Jerome, Partner, Jerome Merchant
vishnu.jerome@jmp.law
