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LexCounsel keeps close to Leapstart VC on latest target: English learning

Delhi firm LexCounsel has advised longstanding clients venture capital (VC) fund LeapStart Trust on its third portfolio investment with a a 26 per cent stake in English e-learning group Liqvid eLearning after a prior focus on technology and hospitality sectors.

LexCounsel Delhi-based partner Seema Jhingan who had advised on setting up of the fund in 2009 and subsequent investments led the transaction along with associate Chanda Sheemar.

The investee company, which is promoted by the former owner of e-Gurucool Vivel Agarwal, has the objective of capitalising on emerging opportunities in English learning market for adults. The field is a Rs 2,000 crore market with an annual growth rate of 16 per cent, according to LexCounsel.

“LexCounsel represented LeapStart in conducting a detailed due diligence of Liqvid, post diligence compliances, preparation and finalization of the investment documents,” the firm stated.

LeapStart is a SEBI (Securities and Exchange Board of India) registered VC fund.

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