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Inventus, Sixth Sense, Blume & Norwest win Apex'20 Venture Capital Awards

Inventus Capital Partners, Sixth Sense Ventures, Blume Ventures and Norwest Venture Partners were voted the top Venture Capital investors in India during 2019. The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best Indian Private Equity & Venture Capital industry has to offer. Other 2019 winners in the VC segment included Axilor Ventures which was votedthe Accelerator of the Year for the second year running, 3one4 Capital (VC Fund Raise of the Year) and Innoven Capital (Venture Debt firm of the Year).
The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms as well as "crowd sourced" nominations and voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Exit Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies).

"It is an honour to be recognised by entrepreneurs and investors as India's No 1 startup accelerato…

Impact of Culture on M&A: Survey Report

Culturelytics-Venture Intelligence Survey Report
Globally, mergers and acquisitions worth a total of more than $4 trillion take place every year. Studies show that more than 85% of these deals fail to create value, and in more than 30% of these, cultural misalignment is one of the key reasons cited.

COVID-19 will almost certainly trigger a significant wave of consolidations and a big spike in M&A activity, as companies scramble to survive and win in a marketplace characterized by VUCA. These deals are likely to be more cross border control stake transactions. We already see China making big investments in Italy, and Japanese companies turning their attention away from China towards India. Culture has never been more important than now. 
Key Findings: Great team vs Great Idea:                                                                         Nearly 67% of investors want to invest in an excellent team with a workable strategy/idea (would choose to combine an A-Team with a B- Ide…

Legal Capsule by Veyrah Law

COVID-19 Commercial Disputes: Litigate Rarely, Negotiate Mostly, But Settle Always!

Have your customers defaulted on payments because of the COVID-19 crisis? Have your business partners avoided contractual obligations because of the lockdown? Are you a lessor who is being asked to waive lease rentals on your premises? Do you think your business is entitled to claim the benefit of a ‘force majeure’ or ‘frustration of contract’? Courtesy of the COVID-19 crisis, these and many more such questions seem to have become common in today’s business parlance. Many businesses are even considering legal action to enforce what they believe are their legitimate legal rights. Most businesses may have already reached out to advisors to understand the options for enforcement, the applicability of the principle of ‘force majeure’ or ‘frustration of contracts’ to their situation.

However, this article is not about explaining the legal niceties around ‘force majeure’, ‘frustration of contracts’ or other co…

Legal Capsule by Law Office of Madhavan Srivatsan

PREVENTIVE (LEGAL) MEASURES FOR A START-UP DURING AND POST LOCKDOWN
Authors: Madhavan Srivatsan and Khizer A. QureshiAs we brace for exit from the second phase of the lockdown, it is imperative that a start-up entity (“Start-Up(s)”) considers implementation of certain preventive measures from a legal perspective in order to reduce/ mitigate the losses faced by it during the lockdown. These measures may be taken either ‘during the lockdown’ or ‘post lockdown’. Whether these measures are taken ‘during the lockdown’ or ‘post lockdown’, will depend entirely upon the nature of business of the Start-Up and its financial condition. It might be impossible to suggest any straightjacket measures to be taken by the Start-Up in order to recover or minimize its losses and position in the market which was prevailing prior to the advent of this mayhem. Surely, the only sure shot means to recover will depend upon the sheer “will power” and determination of the founders to recover from here. No doubt, …

Cyril Amarchand Mangaldas tops League Table for Legal Advisors to M&A deals in Q1 2020

Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions for the quarter ending March 2020. CAM advised M&A deals worth $16.1 Billion (across 26 qualifying deals), followed by Shardul Amarchand Mangaldas (SAM) with $4 Billion (across 5 deals). AZB & Partners (with $3.1 Billion across 13 deals), Trilegal ($3.1 Billion across 9 deals) and Khaitan & Co. ($1.8 Billion across 15 deals) completed the top five.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.
Among the largest deals in this quarter, CAM advised Jaypee Infratech’s $3.1 Billion acquisition by NBCC through the Insolvency & Bankruptcy Code (IBC) process. CAM, SAM and Trilegal advised the $1.9 Billion acquisition of Krishnapatnam Port by Adani Group. CAM also assisted the mer…

KPMG tops League Table for Transaction Advisors to M&A deals in Q1 2020

Advising deals worth $918 million, KPMG topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals for the quarter ending March 2020. Arpwood Capital took the second place with $770 million followed by Ernst & Young with $571 million. RBSA Advisors ($530 million) and Ambit Corporate Finance ($297 million) completed the top five.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.
KPMG advised the takeover of distressed RattanIndia Power by a consortium of investors for $568 million. Arpwood Capital advised Nuvoco Vistas’ $770 million acquisition of Emami Cement. Ernst & Young advised Zomato's acquisition of Uber Eats. RBSA Advisors advised NTPC’s acquisition of NEEPCO and Ambit Corporate Finance advised Siemens acquisition of C&S Electric.
The full league table can …

Cyril Amarchand Mangaldas tops League Table for Legal Advisors to Private Equity deals in in Q1 2020

Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisors to Private Equity (PE) Transactions for the quarter ending March 2020. CAM advised PE deals worth $1.6 Billion (across 23 qualifying deals) during the period. Khaitan & Co. came in second at $1.4 Billion (across 16 deals), followed by Shardul Amarchand Mangaldas (SAM) ($1.2 Billion across 13 deals) in third place. Trilegal ($886 million across 13 deals) and AZB & Partners ($597 Billion across 12 deals) completed the top five.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.
Among the largest deals in the latest quarter, CAM, Khaitan, SAM, Trilegal and Kirkland & Ellis advised the $568 million investment in distressed RattanIndia Power by a consortium of investors including Goldman Sachs and Varde Par…

KPMG tops League Table for Transaction Advisors to Private Equity deals in Q1 2020

KPMG topped the Venture Intelligence League Table for Transaction Advisors to Private Equity Deals in the quarter ending March 2020. KPMG advised the $568 million investment in distressed RattanIndia Power by a consortium of investors including Goldman Sachs and Varde Partners. Nomura Securities came in second, advising Canadian private equity investor Brookfield’s $205 million investment in IndoStar Capital Finance. With $155 million across 6 qualifying deals, Avendus took the third spot. Spark CapitalAdvisors ($46 million) and Intensive Fiscal Services ($39 million) completed the top five in Q1’20.


The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Financial and Legal Advisory firms.
By Deal Volume
Avendus and Unitus Capital topped the tables in terms of deal volume, advising 6 deals each during the quarter. This was followed by DPNC Advisors, …

Legal Capsule by LexCounsel

Possibility of Non-Payment of Lease Rent Due to COVID-19
Amidst the outbreak of novel coronavirus (“COVID-19”) and its consequential countrywide lockdown, shutting down majority of the commercial, industrial and retail activities, the much forgotten ‘Force Majeure’ clause in contracts and leases is now receiving close scrutiny. In simple terms, ‘Force Majeure’ events relieve a party from performance of its contractual obligations, without any consequential breach of the contract, provided such performance is adversely impacted by events outside the control of an affected party such as act of God, natural disaster, war, strike, lockout, epidemic, Government orders, etc. 
The Ministry of Home Affairs vide its order dated March 29, 2020, in exercise of its powers conferred under Section 10(2)(l) of the Disaster Management Act, 2005, directed all State/Union Territory Governments and State/Union Territory Authorities to take necessary actions and issue necessary orders, inter alia, for waiv…

Legal Capsule by LexCounsel

Extension of Realisation Period of Export ProceedsTo ease the impact of disruption caused by the Coronavirus/COVID-19 pandemic, the Reserve Bank of India (“RBI”) has provided extension of the period for realisation of the export proceeds as prescribed under the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 (“FEM Export Regulations”) read with the RBI Master Direction on Export of Goods and Services (“RBI Master Directions on Exports”).
Regulatory Framework:
The export of goods and services in India and the payments to be received for such export of goods and services are regulated by the FEM Regulations, framed under the Foreign Exchange Management Act, 1999, read with the RBI Master Directions on Exports. We discuss hereinbelow certain key provisions of the FEM Export Regulations and the RBI Master Directions on Exports:
1.Realization for Exports: In terms of regulation 9 of the FEM Export Regulations, every exporter is required to ensure that the amoun…