The Venture Intelligence Blog

AZB and Khaitan & Co. claim the No.2 & No.3 slots Trilegal topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions for the quarter ending March 2021, advising 6 qualifying deals worth USD 6.3 Billion. It was followed by AZB & Partners (USD 4.1 Billion across 15 deals) and Khaitan & Co. (USD 3.6 Billion across 15 deals) in the second and third spots respectively. Cyril Amarchand Mangaldas (CAM, USD 3.1 Billion across 12 deals) and Shardhul Amarchand Mangaldas (SAM, USD 1.5 Billion across 8 deals) completed the top five. The largest deal advised by Trilegal was  Piramal Enterprises' acquisition of stressed mortgage lender DHFL for USD 5.2 Billion.  AZB advised Wipro’s USD 1.5 Billion acquisition of CAPCO.  CAM advised the Government of India's (GoI) stake sale in Tata Communications Limited (TCL)  for USD 1.2 Billion.  Khaitan & Co., Shardul Amarchand Mangaldas, and Trilegal advised Byju's USD 1 Billion...

Ambit Corporate Finance and JM Financial claim the No.2 & No.3 slots   ICICI Securities topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals during the quarter ended March 2021, advising deals worth USD 1.2 Billion (across 2 transactions). Ambit Corporate Finance (USD 475 million across 1 deal) and JM Financial (USD 307 million across 4 deals) took the second and third spots respectively. Avendus (USD 253 million across 3 deals) and Edelweiss Financial Services (USD 232 million across 1 deal) completed the top five. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE and M&A transactions advised by Financial and Legal Advisory firms. ICICI Securities acted as the transaction advisor to Government of Indias (GoI) 26.12% stake sale in Tata Communications Limited (TCL) through a combination of Strategic Sale to the Tata G...

AZB and CAM claim the No.2 & No.3 slots Trilegal topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in Q1 2021. Trilegal advised PE deals worth USD 6.5 Billion (across 6 qualifying deals) during the period. AZB & Partners (USD 4.4 Billion across 29 deals) and Cyril Amarchand Mangaldas (CAM) (USD 2.4 Billion across 22 deals) took the second and third spots. Khaitan & Co. (USD 2.1 Billion across 14 deals) and Shardhul Amarchand Mangaldas (SAM, USD 1.1 Billion across 8 deals) completed the top five. Among the largest deals in the latest quarter, Trilegal advised Piramal Enterprises' acquisition of stressed mortgage lender DHFL for USD 5.2 Billion. Cyril Amarchand Mangaldas, Khaitan & Co., Latham & Watkins, Nishith Desai Associates, Ropes & Gray, Skadden Arps Slate Meagher & Flom, Touchstone Partners, and Trilegal advised the RewNew Power SPAC merger deal worth USD 590 million. S&R Associates advised SB...

BofA Securities, Goldman Sachs, Morgan Stanley, and JM Financial claim the No.2 & No.3 slots Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions for the period Q1 2021. Avendus advised 10 deals worth $880 million. BofA Securities , Goldman Sachs, Morgan Stanley stood second having advised 1 deal worth $590 million. They were followed by JM Financial with 4 deals worth $467 million. Spark Capital Advisors ($389 million across 3 deals) and Investec Bank ($248 million across 4 deals) completed the top five in Q1 2021. Among the largest deals in Q1 2021, Bank of America Merrill Lynch , Goldman Sachs, and Morgan Stanley acted as the advisors to the merger of Renew Power with a Nasdaq-listed SPAC (Special Purpose Acquisition Company) providing exit to the PE investors . Avendus advised the $400 million fund raise of Dream11 from D1 Capital Partners, Falcon Edge Capital, Steadview Capital, TPG Capital, TCV, Tiger Global, ChrysC...

Considering Litigation In India | Part VI – What Happens Outside Court Is Just As Important! This aspect of litigation is more critical than what a party may envisage it to be. While engaging in any kind of litigation one must be sensitive to the implication of events that occur outside court. One may not realize, but what transpires outside court could be used by either side to their advantage before a court. In this article, we will explain how and why the conduct of litigants outside court should be consistent with the arguments and pleadings of litigants in court. Some key facets that one must ensure prior to and during the life of the litigation proceedings, are discussed below. Conduct during litigation Many a times litigants perceive the proceedings in court to be an altogether different matter than what transpires in day-to-day interactions. Nothing could be further from the truth! The conduct of a litigant related to the matter in litigation is open to scrutiny and can be ques...

Portfolio has several overlaps with other big investors; makes repeat investments in select sectors such as Edtech and Fintech Known for its aggressive take on the Indian startup space, this this US-headquartered investors - with roots in the hedge fund world - has been hitting the headlines repeatedly this year with its participation in consecutive Mega funding rounds ($100M+ deals). The investee companies are typically big names in the country's startup ecosystem. Flashback Five years ago, when Venture Intelligence had analysed Tiger Global’s rising impact on Startup India (including an infographic depicting the overlap of Tiger's portfolio with other active investors during that period), the firm’s VC-type investments had been led by Lee Fixel. After closing 37 deals in 2015, Tiger Global went into a 'Slowdown Phase' between 2016 and 2018, when it invested around $250 million across just 22 deals and began to focus on cashing out from its earlier bets.  The mega exi...

Pre-Packaged Insolvency – India The Government on April 4, 2021 notified the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 (“ IBC Ordinance, 2021 ”) amending the Insolvency and Bankruptcy Code, 2016 (“ IBC ”) to introduce pre-packaged insolvency resolution process (“ Pre-Packaged Insolvency ”) for Micro, Small and Medium Enterprises (“ MSMEs ”). The Government has also introduced the Insolvency and Bankruptcy (Prepackaged Insolvency Resolution Process) Rules, 2021 (“ Pre-Packaged Insolvency Rules, 2021 ”) with effect from April 9, 2021.   Background : For some time now, IBC has been criticized for failing to bring successful resolution in a vast majority of cases. One of the main reasons for ‘below the expectation’ success of IBC in reviving the stressed businesses has arguably been ‘ouster of the promoters’ of the company. Neither the committee of creditors nor the resolution professionals are in many cases equipped to take timely and fruitful business decisions, and ...

Press Release Nexus Venture Partners, Speciale Invest, Blume Ventures and Innoven Capital were voted the top Venture Capital investors in India during 2020. The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. 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). Suvir Sujan, Co-Founder/Managing Director, Nexus Venture Partners said “While we are honored to receive this award, it is the vision and execution of the exceptional entrepreneurs we back that deserve the lion's share of the credit.” “Over the past decade, we have witnessed the evolution of the Indian technology entrepreneur a...

Press Release Warburg Pincus, India Alternatives, Multiples PE and Tata Capital Healthcare Fund were voted the top Private Equity investors in India during 2020. The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer.      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). Vishal Mahadevia, Managing Director and Head of India, Warburg Pincus , said “We thank Venture Intelligence for this acknowledgement. In the midst of a challenging time globally, the Indian PE landscape continues to expand actively, supporting talented entrepreneurs build solid businesses.” “Warburg Pincus too has be...

Press Release ChrysCapital, Motilal Oswal Private Equity and Sequoia Capital India have been named the top Private Equity & Venture Capital investors in India during the last decade, as part of Venture Intelligence’s APEX Awards. The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer.  While ChrysCapital won the “Private Equity Investor of the Decade” award, Motilal Oswal Private Equity was feted as India’s “Growth Capital Investor of the Decade”. The Indian arm of the storied Silicon Valley VC firm, Sequoia Capital, was named the country’s “Venture Capital Investor of the Decade”. 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 were Exit Track Record, New Fund Raises & Fo...