DEAL DETAILS
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Investcorp India Asset Managers Private Limited | Series A investment in Girnar Insurance Brokers Private Limited |
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NO |
HEADINGS |
DETAILS |
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1. |
Sector |
Insurance |
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2. |
Announcement Date |
14-Feb-2023 |
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3. |
Name of Client |
Investcorp India Asset Managers Private Limited |
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4. |
Investor Details |
Investcorp Private Equity Fund II | India |
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5. |
Target Details |
Girnar Insurance Brokers Private Limited | India |
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6. |
Deal Description |
Advised Investcorp on their investment in Girnar Insurance Brokers as part of an overall funding round of USD 150 million. This is the largest Series A funding raised by an insurtech company in India. |
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7. |
Total Consideration |
USD 150 million |
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8. |
Team Members |
The core team consisted of Vineet Shingal (Partner), Harsh Khemka (Principal Associate), Srishti Mukherjee (Senior Associate), Mokshita Jain (Associate) with assistance from the following:Due diligence aspects: Vivek Narayan (Associate) |
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9. |
Role of Firm |
Legal advisors to Investcorp |
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10. |
Other legal advisors if any with names of Lead Lawyers |
Bharucha & Partners (Girnar Insurance Brokers), Cyril Amarchand Mangaldas (Goldman Sachs), Khaitan & Co (Chennai Office) (TVS) |