Tatva & Luthra birth $16m Sequoia, Matrix PE investment into Cloudnine

Tuesday, 5 November 2013 By Legally India Private equity / VC

Tatva Legal advised Bangalore-based post natal clinic Cloudnine in raising Rs 100 crore ($16m) from Sequoia Capital and Matrix Partners. Sequoia was advised by Luthra & Luthra.

Tatva Bangalore partner Manav Nagaraj and senior associate Bhargava KS acted for Cloudnine, which is owned by Kids Clinic India and had its second round of funding.

Luthra Mumbai partner Bikash Jhawar and associate Aastha Suman acted for Sequoia which led the funding.

Matrix Partners had in 2011 already invested Rs 45 crore in Cloudnine, reported VCCircle, adding that Cloudnine plans to invest Rs 350 to 400 crore to build 15 hospitals in India in the next three years.

A total of 46 private equity deals in the healthcare industry in 2013 have added up to Rs 3,704 crore year-to-date, compared to over Rs 7,311 crore across 54 deals last year, according to research firm Venture Intelligence’s data that was reported by the Economic Times.

Tatva LegalLuthra & LuthraL&L Partners

Comments

Guest 5 Nov 2013, 12:37
+4 -1
Nice...luthra seems to be back in action..begun figuring in quite a few deals in the last few months....
Anon 5 Nov 2013, 13:11
+7 -1
Great show Bikash. Tatva also seems to be doing well. Manav has worked a lot in the healthcare space it appears.
Guest 5 Nov 2013, 16:41
+3 -1
Go Luthra. You can again be a tier 1 law firm in India. :)
Guest 6 Nov 2013, 06:30
+1 -1
Wasn't Luthra always tier 1? When did they slip? Perhaps not as big as AMSS, but should be still up there
Gezuz 6 Nov 2013, 00:05
+1 -1
Wow,, L&L's PR department is doing badly, must be a poor Diwali bonus if all they managed were 3 comments above this one. Frankly its embarrassing Luthra gets named for a 16m $ deal when even startups are doing better. [...]
Guest 6 Nov 2013, 12:53
+0 -0
[quote name="Gezuz"]Wow,, L&L's PR department is doing badly, must be a poor Diwali bonus if all they managed were 3 comments above this one. Frankly its embarrassing Luthra gets named for a 16m $ deal when even startups are doing better. [...][/quote]
Umm...They don't pay any Diwali bonus.
Bite 7 Nov 2013, 06:52
+1 -0
[quote name="Gezuz"]Wow,, L&L's PR department is doing badly, must be a poor Diwali bonus if all they managed were 3 comments above this one. Frankly its embarrassing Luthra gets named for a 16m $ deal when even startups are doing better. [...][/quote]

..... how the mighty have fallen!!
Jury 6 Nov 2013, 07:33
+4 -3
Tatva is found frequently in deals. Way to go Tatva....
Anon 6 Nov 2013, 16:01
+0 -0
What does "left the funding" mean?
Guest 8 Nov 2013, 11:03
+0 -1
Luthra used to be a tier 1 law firm but now it has declined as people have left it
Commenting is closed for this article.