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AZB acts for investor Footpath on $400m Udaan fundraise [08-2019]

Acquisition by Footpath and other investors of compulsorily convertible preference shares in excess of 10% share capital of Trustroot Internet, according to reports.

Bengaluru | Mumbai: Udaan, an online marketplace that caters to small businesses, is close to raising around $500 million in fresh funds, which is likely to almost more than double the company’s valuation from its previous round to $2.2 billion, three people privy to the deal talks said. Existing backers Lightspeed Venture Partners and Yuri Milner’s DST Global are leading the financing round, while new investors including Hillhouse Capital and Altimeter Capital are likely to participate, the people said.

The Economic Times

AZB & Partners advised one of the investors, the New York-headquartered Footpath Ventures LP, led by a team of partner Vaidhyanadhan Iyer and associate Vasudha Asher.


Deal value: USD 400 Million / INR 28.9 Billion

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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