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K Law, AZB, CAM, Indus on $15m Kinara Cap funding from Gaja Capital, new investor GAWA, others

Visage Holdings and Finance owned NBFC Kinara Capital, has raised Rs 96 crore (USD 15 million approx) in a fresh round of investment by way of primary infusion and purchase of shares from mid-market PE firm Gaja Capital along with Spanish impact investment firm Gawa Capital and existing investors, as reported by The Economic Times and VC Circle.

Cyril Amarchand Mangaldas acted as the legal advisors to Gaja Capital and was represented by partner Vandana Sekhri, principal associate Aditi Manchanda and senior associate Mahesh Wasadikar.

The K Law team advised and assisted the Spain-based investment firm GAWA Capital in the transaction, led by partner Sankar Swamy and associate partner Aparnaa Bhalotia.

Indus Law advised the MSME-focussed NBFC Kinara Capital owner Visage Holdings and Finance and was led by founding partner Suneeth Katarki, senior associate Mayukh Datta and associate Nikita Rajwade.

AZB & Partners acted for Kinara’s existing backer Michael and Susan Dell Foundation and was represented by senior associates Rukmani Seth and Priyamwada Shenoy

It was also reported that BSE-listed NBFC major Shriram City Union Finance will exit its position in the six-year-old company. The equity financing round will see Kinara receive about Rs 70 crore as primary funding, with the remaining going to Shriram City Union Finance, which it had initially invested in the NBFC in 2015.


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