Themis Associates

Online payment and e-commerce platform, Paytm has made a strategic investment in the resultant joint entity of hyper local deals discovery platforms Nearbuy and Little Internet by infusing fresh funds of over Rs 162 crores ($25m) and acquiring a majority stake of 51%, reported The Economic Times and Mint. The merged entity expected to be valued over $100m and hold a market share of 88%, is said to have been arranged by Paytm as a strategic move to provide their merchant partners an opportunity to offer deals to acquire new customers and grow their business.

Gurgaon-based upcoming micro-delivery grocery platform has secured Rs 19 crores (around $3m) in a Pre-Series A funding round, led by Unilever Ventures Holdings the investment arm of Unilever PLC, as reported by The Times of India and Mint. The grocery delivery platform had raised around $500k in another Pre-Series A funding round from Blume Ventures and Lenovo Capital and Incubator Group, earlier in August, 2017.

ICICI Venture, the private equity arm of India’s largest private-sector lender ICICI Bank, has entered into a definitive agreement to acquire a minority stake of around 14% in popular women’s legwear brand Go Colors owned by Chennai-based apparel maker, Go Fashion India by investing Rs 100 crores (around $15.6m), through its fourth PE fund – India Advantage Fund Series 4, as reported by VC Circle and The Economic Times. The current investment is the ICICI Ventures’s first retail apparel investment in the past decade and also marks as the second for the women’s apparel brand, pursuant to an initial investment of Rs 60 crores by Sequoia Capital India Investments IV in November, 2014, wherein Sequoia acquired 33.33% stake in Go Fashion India.

“Private equity firm IDFC Alternatives has invested Rs 75 crore ($11 million) for a minority stake in ASG Eye Hospitals,” reported VCCircle.

"Edtech platform Unacademy has raised series-B funding of $11.5 million (approximately Rs 73.6 crore) led by Sequoia India and SAIF Partners. Existing investors Nexus Venture Partners and Blume Ventures also participated in the round," reported the Economic Times.

"B9 Beverages Pvt. Ltd has raised around $8 million from venture capital fund Sequoia Capital India Advisors, said Ankur Jain, founder of the company that sells the popular Bira 91 craft beer. With the latest round of funding from Sequoia Capital, B9 Beverages has so far raised around $30 million," reported Mint.

"Non-banking finance company Five Star Business Finance has raised Rs 333 crores (about $50 million) in its Series C round led by Norwest Venture Partners and Sequoia Capital. Existing investors including a fund managed by Morgan Stanley Private Equity Asia and Matrix Partners also participated in the round. The round saw Five Star raising Rs 318 crores through primary infusion with about Rs 15 crores coming in via a secondary sale of shares," reported the Economic Times.

"Online pharmacy and healthcare services start-up 1mg Technologies Pvt. Ltd has raised $15 million in a funding round led by global healthcare-focused fund HBM Healthcare Investments AG, to launch predictive healthcare and corporate wellness products. The series C round also saw participation from existing investors Maverick Capital Ventures, Sequoia India, Omidyar Network and Kae Capital," reported Mint.

"OneAssist Consumer Solutions – which provides protection for credit cards, smartphones and payment cards in case of loss or theft – has raised Rs 118 crore ($18 million) in its series-C round of financing, as per documents filed with the Registrar of Companies. The round was led by existing investors Sequoia Capital India along with participation from Lightspeed Venture Partners and New York-based insurance provider Assurant. The round also marks the entry of new investor, UK-based Moonstone Investments," reported the Economic Times.

“Awfis Space Solutions, a start-up that provides shared workspaces, has raised $20 million from Sequoia Capital India to fund its expansion plans.” reported Mint.

Legasis Partners advised deals and discounts website Nearbuy in raising Rs 15 crore ($2.25m) from non-banking financial company Blacksoil which was advised by IndusLaw.

"PayU Global, the digital payments provider owned by South Africa’s Naspers Group, will buy rival Citrus Pay for $130 million in an all-cash deal. PayU India will have more than 30 million customers post the acquisition of Citrus Pay. The company forecast it will process an estimated 150 million transactions, worth $4.2 billion, in 2016. The deal, once concluded, is expected to provide an attractive exit to Citrus Pay’s investors—Ascent Capital, Beenos and Sequoia Capital. PayU confirmed that the early investors will exit but declined to disclose details,” reported Mint.

K Law acted for Capital Float, the online lending platform for small and medium-sized enterprises (SMEs), in its $25m (Rs 170 crores) fundraising round led by Creation Investments, which was advised by J Sagar Associates (JSA) Delhi partner Lalit Kumar along with senior associate Bharti Joshi.