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Deal Corner

NDA Represents Nuveen In Its Investment in Fabric IOT

July 21, 2025

Deal Brief

As part of its second climate inclusion strategy, NCIF II Lux S.á.r.l. (“Nuveen”) participated in the Series A Funding Round of Fabric IOT Private Limited (“Fabric”). The transaction involved a primary infusion by Nuveen into Fabric.

Fabric, along with its subsidiary Intellicar Telematics Private Limited (“Intellicar”), is engaged in the business of setting up internet of things (“IoT”) hardware and software, charging solutions in automotive and mobility spaces, building the elective vehicle future by a SAAS platform, setting up an IoT network infrastructure platform and deploying various IoT solutions in smart cities, smart home spaces.

Our Role

We, at Nishith Desai Associates, acted as the regulatory, legal and tax counsel to Nuveen and advised Nuveen on the structuring, negotiation, and finalisation of the transaction documents. We also conducted legal due diligence on Fabric and Intellicar.

Our Client

Nuveen is the global investment manager of Teachers Insurance and Annuity Association (“TIAA”), managing public and private assets worldwide. TIAA is one of the largest institutional investors in the world, with $1.2 trillion worth of global assets under management as of March 1, 2024.

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