July 01, 2010
Bessemer Venture Partners recently invested USD 2 million
Bessemer Venture Partners ("BVP") recently invested USD 2 million into Applied Solar Technologies Private Limited ("AST") along with International Finance Corporation and another private equity investor. This investment was part of a Series B funding of AST, BVP having invested in the initial round of funding in 2009. AST is in the business of manufacturing solar systems, erection and project management of such systems and providing electrical energy and solutions to industrial and other sectors.
We, at Nishith Desai Associates, acted as legal and tax counsel to BVP for this transaction.