DSK Legal advised Infifresh Foods Private Limited (“Infifresh”) and its Founder, Mr. Utham Swamygowda (“Founder”) in relation to their Series C Round from the Existing Investors of Infifresh, i.e.: (i) Tiger Global; (ii) Prosus Ventures (Naspers); (iii) Accel Partners; (iv) Matrix Partners; (v) Ankur Capital Fund; and (vi) Incubate Japan (“Series C Investors”).
Infifresh is engaged in the business of procuring, supplying and processing fresh seafood and various categories of meat on a B2B basis (operating under the brand named “Captain Fresh”) catering to online retail players, modern trade, general trade retailers, hotels and restaurants catering. Infifresh proposes to use the proceeds from the issue to foray into markets of Africa, Middle East and other parts of Asia.
The scope of work of DSK Legal included: (i) advising on overall structure for the transaction; (ii) assisting Infifresh in the due diligence process being conducted by the Series C Investors; (iii) drafting, revising, negotiating and finalizing of Transaction Documents executed between Infifresh, the Founder and Series C Investors; and (iv) assisting in completing conditions precedent and closing process of the transaction (including corporate secretarial actions).
This is the sixth successful fund-raising exercise completed by DSK Legal for Infifresh since its incorporation in June 2020.
DSK Legal team for the above transaction was led by Associate Partner Mr. Jayesh Kothari, Associate Ms. Hemanshi Gala and Associate Mr. Kunal Chopra.
Mr. Hemang Parekh acted as the Engagement Partner for this assignment and provided crucial inputs on the transaction.
Tiger Global & Naspers Ventures were represented by AZB Partners & Gunderson Legal (New York).
Accel India VI (Mauritius) Limited was represented by in-housel legal team.
Matrix Partners India Investments III, LLC and Matrix Partners India III AIF Trust was represented by Rajaram Legal.
Ankur Capital Fund-II was represented by J Sagar & Associates.
Incubate Japan was represented by Pier Counsel.
Deal Value: USD 50 Million (INR 372 crore)