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CAM acts on Colgate-Palmolive 1st India investment in Rajaram-client Bombay Shaving Co for $2.6m

Colgate-Palmolive, via its Hong Kong arm, has made its first India venture capital (VC) investment, with an Rs 18 crore ($2.6m) buy of 14% in men’s grooming firm Bombay Shaving Company, reported the Economic Times.

Rajaram Legal advised Bombay Shaving Company led by managing partner Archana Rajaram and principal associate Prasad Subramanyan, according to the firm’s press release.

Cyril Amarchand Mangaldas advised Colgate-Palmolive led by partners Ravi Kumar and Manita Doshi, principal associate Nandini Gangal and associate Sakshi Sejwal.

IC Universal Legal advised existing investor Fireside Ventures led by partner Souvik Roy.

The Bombay Shaving Company was founded in 2016 and offers subscriptions to men’s grooming products, mirroring the US-based Dollar Shave Club that was bought by Unilever in 2016 for around $1bn.

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