Deal Corner
October 30, 2024
NDA represents Sofina for its investment in the Series E Funding Round of Finova Capital Private Limited

DEAL BRIEF

Sofina Ventures SA (“Sofina”) invested in the Series E funding round of Finova Capital Private Limited (“Finova”), a leading non-banking financial company licensed by the Reserve Bank of India along with other investors such as Madison India Opportunities V VCC, Avataar Venture Partners II etc. The round size was approximately INR 1,135 crore.

Finova offers a wide range of financial products and services tailored to the unique needs of MSMEs, including working capital loans, machinery loans, business loans, and more. With more than 400 branches, Finova operates in 16 states, including Rajasthan, Madhya Pradesh, Chhattisgarh, Karnataka, Andhra Pradesh, Telangana, and Himachal Pradesh.

OUR ROLE

We at Nishith Desai Associates, acted as the transaction counsel for Sofina and advised them on legal and regulatory aspects, including negotiation and finalization of the transaction documents and closing of the round.

DEAL TEAM

Harshita Srivastava

Khyati Dalal

Palomita Sharma

MEDIA COVERAGE

https://economictimes.indiatimes.com/tech/funding/finova-capital-secures-rs-1135-crore-in-fresh-funding-from-avataar-venture-partners-sofina-madison-india-and-others/articleshow/114726362.cms?from=mdr

https://www.business-standard.com/finance/news/finova-capital-raises-135-million-to-expand-loan-book-invest-in-tech-124102901376_1.html

https://www.dealstreetasia.com/stories/finova-capital-avataar-venture-partners-sofina-madison-417652

NDA-represents-Sofina-for-its-investment-in-the-Series-E-Funding-Round-of-Finova-Capital-Private-Limited

 

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

Research Papers

Unmasking Deepfakes
October 25, 2024

Are we ready for Designer Babies
October 24, 2024

Opportunities in GIFT City
October 18, 2024

NDA Connect

Connect with us at events, 
conferences and seminars.

Deal Corner

October 30, 2024

NDA represents Sofina for its investment in the Series E Funding Round of Finova Capital Private Limited

DEAL BRIEF

Sofina Ventures SA (“Sofina”) invested in the Series E funding round of Finova Capital Private Limited (“Finova”), a leading non-banking financial company licensed by the Reserve Bank of India along with other investors such as Madison India Opportunities V VCC, Avataar Venture Partners II etc. The round size was approximately INR 1,135 crore.

Finova offers a wide range of financial products and services tailored to the unique needs of MSMEs, including working capital loans, machinery loans, business loans, and more. With more than 400 branches, Finova operates in 16 states, including Rajasthan, Madhya Pradesh, Chhattisgarh, Karnataka, Andhra Pradesh, Telangana, and Himachal Pradesh.

OUR ROLE

We at Nishith Desai Associates, acted as the transaction counsel for Sofina and advised them on legal and regulatory aspects, including negotiation and finalization of the transaction documents and closing of the round.

DEAL TEAM

Harshita Srivastava

Khyati Dalal

Palomita Sharma

MEDIA COVERAGE

https://economictimes.indiatimes.com/tech/funding/finova-capital-secures-rs-1135-crore-in-fresh-funding-from-avataar-venture-partners-sofina-madison-india-and-others/articleshow/114726362.cms?from=mdr

https://www.business-standard.com/finance/news/finova-capital-raises-135-million-to-expand-loan-book-invest-in-tech-124102901376_1.html

https://www.dealstreetasia.com/stories/finova-capital-avataar-venture-partners-sofina-madison-417652

NDA-represents-Sofina-for-its-investment-in-the-Series-E-Funding-Round-of-Finova-Capital-Private-Limited

 

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

Research Papers

Unmasking Deepfakes
October 25, 2024

Are we ready for Designer Babies
October 24, 2024

Opportunities in GIFT City
October 18, 2024

NDA Connect

Connect with us at events, 
conferences and seminars.