Private equity / VC

Khaitan & Co represented ATM outsourcing company AGS Transact Technologies in its successful bid to raise Rs 145 crore ($32m) in private equity funds from investment firm TPG growth, which drafted in AZB Partners and Milbank Tweed.

The Bangalore offices of Vaish Associates Advocates and Trilegal have advised on $10m private equity (PE) investment of Sequoia Capital and IDG Ventures in Bangalore-based third-party mobile applications developer Sourcebits.

K Law and Vaish Associates have advised on the Rs 100 crore ($22.5m) pre-IPO private equity investment by Avigo into Super Religare Laboratories.

MMB Legal advised education company Teamlease Services on its Rs 100 crore ($22.6m) fundraising ICICI Venture and Gaja Capital, advised by Wadia Ghandy Bangalore and DSK Legal in Mumbai.

Khaitan & Co and Chitale Law Associates have advised on a $19m private equity infusion in Mumbai-based aroma chemicals manufacturer Privi Organics by Standard Chartered.

Kochhar & Co and AZB & Partners have advised venture capital firms New Enterprise Associates (NEA) and Headland Capital respectively on their Rs 70 crore equity investment in mobile value added services (VAS) provider ValueFirst Messaging.

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.

Juris Corp and Tatva Legal have advised on private equity fund BanayanTree Growth Capital’s minority stake investment in oil, gas and power services company Dee Development Engineers.

Exclusive: Test prep company Career Launcher takes on Rs 50 crore private equity cash for school chain.

AZB & Partners was the busiest private equity legal advisor of 2010 ahead of ALMT Legal and Indus Law tied in second place followed by DSK Legal and Tatva Legal. Amarchand Mangaldas and Trilegal came in fourth and fifth places respectively, according to a volume-based league table by data provider Venture Intelligence.

Exclusive: PXV Law Partners and Indus Law Advocates have advised on Rs 15 crore venture capital investment in a start up Glocal Hospital by private equity firms Sequoia Capital and Elevar Equity to develop health care facilities in rural West Bengal.

J Sagar Associates (JSA) acted for private equity firm BTS Investment Advisors on its Rs 36 crore ($7.9m) investment in car rental company Carzonrent which was advised by Amarchand Mangaldas.

Majmudar & Co, Dua Associates and J Sagar Associates (JSA) have advised on the $12m venture capital investment by Reliance Venture Asset Management and GE Oil and Gas in renewable energy firm AllGreen Energy for its first biomass project in Tamil Nadu.