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Lexygen, Bharucha on Norwest’s $10.5m investment in Snowman

Lexygen acted for private equity firm Norwest Venture Partners in investing Rs 60 crore ($10.5m) in Bangalore-based cold chain logistics firm Snowman Logistics, which was advised by Bharucha & Partners.

Lexygen founding partner Vijay Sambamurthi with associate Neelima Kumar acted for Norwest, which bought 14 per cent stake in Snowman, according to the Hindu Businessline.

Bharucha partner Vishnu Dutt with associate Swathi Girimaji acted for Snowman, which is a subsidiary of Gateway Distriparks whose stake in Snowman was reduced from 54 per cent to 51.5 per cent in this transaction.

The US Silicon-Valley-headquartered multistage investment firm Norwest manages more than $700m in capital, according to CHA India.

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