Finova Capital has raised ₹1,135 crore ($135 million) from investors Avataar Venture Partners, Sofina Ventures SA, Madison India Capital, and Norwest Venture Partners, as well as existing investors. VERTICES PARTNERS represented Finova Capital in this Series E fundraise. The transaction team consisted of Vinayak Burman (Founder and Managing Partner) along with Vikrant Anand (Partner), Varun Kaka (Senior Associate), Anushree Pathak (Senior Associate) and Nisha Dharod (Associate Manager). Finova Cpaital has been a long standing client of Vertices. Vertices represented Finova in its 2019, 2020 and 2022 fundraise. Vinayak Burman, Vikrant Anand, VERTICES PARTNERS Shardul Amarchand Mangaldas & Co represented Avataar Venture Partners II/Kiri Holdings with a team consisting of KS Bhargava (Partner), Manav Nagraj (Partner), Mithila Hari (Principal Associate) and Jai Mittal (Associate). The Firm also represented Norwest Capital, LLC with a team consisted of Manita Doshi (Partner), Paavani Gupta (Senior Associate) and Pratim Majumdar (Associate). KS Bhargava, Manav Nagraj, Manita Doshi Nishith Desai Associates represented Sofina Ventures SA with a team consisting of Nishchal Joshipura, Harshita Srivastava, Khyati Dalal and Palomita Sharma. The Firm also represented Madison India Opportunities V VCC, MIO Strategic V LLC and MICP Trust with a team consisting of Nishchal Joshipura, Harshita Srivastava and Anirudh Arjun. Nishchal Joshipura Aretha Legal represented existing investors Peak XV Partners Investments V and Peak XV Partners Growth Investments III with a team consisting of Nitin Gera (Founder Partner), Divya Jyoti Mehra (Principal Associate) and Sajal Jain (Associate).

Manu Varghese has joined VERTICES PARTNERS as a Partner in Corporate Practice and will be a significant part of the operations in the Mumbai and the Bengaluru offices.  

Marketing technology startup Wondrlab India Private Limited has acquired a stake in OPA Marketing Tech Private Limited. VERTICES PARTNERS represented OPA Marketing Tech in this transaction. The transaction team consisted of Vikrant Anand (Partner), Nishant Singh (Senior Associate), Vidhi Shah (Associate) and Tejas Jaiswal (Associate). Founder and Managing Partner Vinayak Burman provided strategic inputs. Universal Legal represented Wondrlab India on this transaction. The transaction team consisted of Rashi Kapoor Mehta (Partner) and Henna Kapadia (Associate Partner).

GreyLabs AI [AHG Technologies Private Limited] has $1.5 million in Seed Series round fundraise from Matrix Partners. VERTICES PARTNERS represented GreyLabs AI in this fundraise. The transaction team consisted of Vani Panicker (Partner), Varun Kaka (Senior Associate) and Sucharita Manjunath (Associate Manager). Vani Panicker Phoenix Legal advised Matrix Partners India Investments IV, LLC, Matrix Partners India Investments IV-A, LLC and Matrix Partners India IV AIF, (collectively “Matrix Partners”) on this transaction. The transaction team consisted of Sumit Sinha (Partner), Ashima Dewan (Partner), Vaibhav Asher (Senior Associate), Sayli Petiwale (Senior Associatee) and Vipluv Mittal (Associate).  

Arpwood Partners, a buyout-focused private equity firm, is set to acquire a controlling stake of up to 72.28% in Sitara (Sewa Grih Rin Limited) by way of a primary and secondary investment of approximately ₹700 crore. Anagram Partners acted as the legal advisors to Arpwood. The transaction team was led by Ankit Mishra (Partner) and Aditi Tralshawala (Partner) and comprised Keegan Pavrey (Principal Associate), Reha Metha (Associate), Rajni Tolani (Associate), and Siddhant Sahu (Associate). Ankit Mishra, Aditi Tralshawala VERTICES PARTNERS represented its long-standing clients Alber Nordic and Oikocredit, existing investors of Sitara in the transaction. The transaction team was led by Vikrant Anand (Partner), along with Nishant Singh (Senior Associate), and Yatin Chandna (Associate). Founder & Managing Partner, Vinayak Burman provided strategic inputs. Vinayak Burman, Vikrant Anand Trilegal advised Sewa Grin Rin Limited and Sewa Mutual Benefit Trust with a team lead by Vaibhav Kothari (Partner), Hema Priyadarshini Patnaik (Counsel), Kopal Raje (Senior Associate) and Vidur Prabhakar (Senior Associate). Trilegal also advised certain other existing investors in the transaction with a team led by Rachita Bhat (Partner), Kriti Tuteja (Counsel) and Neethu Roy (Counsel). Sitara provides affordable housing finance to the under-served low-income households, especially their women members, in urban and peri-urban locations. Existing investors including Investors including Abler Nordic, Oikocredit, RNT Associates, HDFC Bank, HDFC Life Insurance, Women’s World Banking Asset Management, and Omidyar Network, will continue to invest in the company.