Khaitan & Co advised Axis New Opportunities AIF – I (“Axis”) in its investment in Girnar Software Private Limited (doing business as ‘Care Dekho’).
Axis New Opportunities AIF – 1 | Series E investment in Girnar Software Private Limited
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HEADINGS |
DETAILS |
| 1. | Sector | IT and ITES |
| 2. | Announcement Date | 15-Dec-2021 |
| 3. | Completion Date | |
| 4. | Name of Client | Axis New Opportunities AIF-I |
| 5. | Investor Details | Axis Growth Avenue AIF-I | India | Investor
Axis Growth Avenue AIF-I is a Category II Alternative Investment Fund incorporated under the laws of India |
| 6. | Target Details | Girnar Software Private Limited | India
Girnar Software Private Limited operates operating online portals for new and second hand vehicles, price comparison including providing software development and information technology services, digital marketing lead generation and support services |
| 7. | Deal Description | Advised Axis New Opportunities AIF – I (“Axis”) in its investment in Girnar Software Private Limited (doing business as ‘Care Dekho’), which raised a Series E round for approx. USD 200 million. Along with Axis, several other major institutional investors such as CA Gaingels, Orios Select Fund I, and FinSight I LP also participated in the Series E funding. |
| 8. | Total Consideration | USD 5 million |
| 9. | Team Members | The core team consisted of Vineet Shingal (Partner), Tanushree Bhuwalka (Partner), Devaditya Chakravarti (Principal Associate), Neha Thirani (Associate), Pritali Patil (Associate) |
| 10. | Role of Firm | Assisted Axis AIF in its investment in the Series E fund raise of USD 200 million by Car Dekho. Khaitan Team was involved in review, negotiation and finalisation of transaction documents for execution and closing the investment. |