Two-wheeler rental startup Bounce raised $72 million in its series C funding round led by global technology fund B Capital Group and Falcon Edge Capital, a New York-based hedge fund. Accel Partners India, Accel Partners USA, Chiratae Ventures, Maverick Ventures, Omidyar Network India, Sequoia Capital India and Qualcomm Ventures, the investment arm of Qualcomm Inc, also participated in the round.
— Mint
IndusLaw advised Wickedride Adventure Services Private Limited (which operates Bounce), and Accel Partners India, Accel Partners USA, Omidyar Network’s ON Mauritius, Qualcomm Asia Pacific Pte Ltd;;. The team was led by senior partner Srinivas Katta and partner Pallavi Kanakagiri. It also included senior associate Anantha Krishnan Iyer, associate Abhishresth Goswami and associate Adarsh Kumar.
(Link Legal India Law Services and Rajaram Legal had advised Wickedride on a previous funding round, with Rajaram as its deal counsel, but it is understood that Wickedride went with Indus due to a potential conflict issue this round).
J Sagar Associates (JSA) Gurgaon partner Manvinder Singh, with lawyers Anant Mishra, Divyam Sharma and Aman Parnami advised B Capital Asia II Ltd.
Goodwin Procter Hong Kong partner Yash A Rana, with lawyers Ananth Lakshman and Abhishek Krishnan advised Falcon Edge India I LP.
Shardul Amarchand Mangaldas partners Raghubir Menon and Ekta Gupta, with lawyers Tanya Choudhary and Srishti Maheshwari acted for Maverick Ventures.
Themis Associates Bangalore lawyers Siddharth Seshan, Utsav Gandhi and Shivani Setty acted for Sequoia Capital India and Chiratae Trust.
2019-06-01
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Didn't want to miss out on the bromance :)
Also, out of curiosity, how did Indus bangalore office represent so many parties? No conflict? I am sure all those they represented would have been on board - but how do you negotiate a (say) RoFO/ RoFR clause.
Indus lawyer with one phone in each hand:
- Right hand phone: We need the RoFR.
- Left hand phone: Nope, we can only concede a RoFO.
- Right hand phone: This is not done. This was agreed in the term sheet.
- Left hand phone: The term sheet only stated that customary share transfer restrictions will be incorporated. RoFO is also customary.
- Right hand phone: We will have to raise this with the principals.
- Left hand phone: We will also seek feedback and get back to you.
Toughest part: Indus lawyer calls both clients - but which one does he advice to concede? To find put, tune into our next episode of "Kissa Conflict Ka".
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