Khaitan & Co advises Insight Venture Management LLC for investment in CredAvenue Private Ltd

CredAvenue raises $137 mn, turns unicorn at $1.3 bn valuation | VCCircle. Khaitan & Co advised advised Insight Venture Management LLC and its affiliates for its investment in CredAvenue Private Limited.

 

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HEADINGS

                                          DETAILS

1. Sector Fintech
2. Signing Date 23 Feb 2022
3. Completion Date Ongoing
4. Name of Client Insight Venture Management LLC (“Client”)
5. Target companies name and description CredAvenue Private Limited (“CAPL”) and its subsidiary i.e. CredAvenue Securities Private Limited (“CSPL”)

CAPL is engaged in the business of operating a technology based infrastructure platform for (i) discovery of debt securities / loans / securitizations / supply chain finance / co-origination of loans, (ii) connecting borrowers / issuers and lenders / investors, and (iii) providing portfolio and risk management monitoring and other forms of support services to borrowers / issuers and lenders / investors under the respective platforms namely CredLoans, Plutus, CredSCF, CredPool and CredCo.

CSPL has obtained a merchant banking registration with SEBI and is in the process of initiating its merchant banking business.

6. Buyer Insight Luxembourg XII S.a.r.l
7. Deal Description Advised Insight Venture Management LLC and its affiliates, in relation to the subscription of 5.81% (Five decimal point eight one per cent) shares of CAPL as the lead investor of the Series B round of investment in the target.
8. Total Consideration Insight subscription amount: INR 5,70,07,12,841 (approx. USD 75 million)

 

Total Series B round consideration: 10,28,30,64,780 (approx. USD 133.5 million)

9. Team Members Core team comprised of Mayank Singh (Partner) and Akarshita Dhawan (Senior Associate) with assistance from

 

Diligence & Closing: Raashi Paathak (Associate); Deeksha Agarwalla (Associate); Shagun Sharda (Associate); Suhaas Arora (Associate).

 

Direct Tax: Ritu Shaktawat (Partner); Sneh Shah (Principal Associate)

Indirect Tax: Dinesh Agarwal (Executive Director); Mayank Jain (Principal Associate)

 

Intellectual Property: Shailendra Bhandare (Partner); Sourav Dan (Principal Associate); Rhea Ghanshani (Associate)

10. Role of Firm The Firm advised and assisted the Client on the (i) drafting, negotiation and finalisation of all transaction documentation; and (ii) assistance in closing formalities.
11. Press Links Credavenue raises 137 million in round led by insight partners at $1.3 billion valuation

CredAvenue raises $137 mn from Insight Partners, B Capital Group others; joins unicorn club with $1.3bn valuation

 

 

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