Private Equity and Venture Capital
The clause that decides the outcome is almost never the valuation. It is the one governing what happens when the plan does not work.
What we do
We act for funds investing into India and for Indian companies raising from them. Term sheets negotiated with an eye to what they will become, since a term sheet drafted loosely is renegotiated expensively. Share subscription and shareholders agreements covering liquidation preference, anti-dilution, reserved matters, board composition, information rights, drag and tag, and the exit mechanics that will matter in year five. Foreign investment conditions, pricing guidelines and valuation requirements where the investor is offshore. Downstream investment analysis, which is where Indian structures most often come apart. Founder arrangements including vesting, non-compete and the treatment of a departing founder. On exit, secondary sales, strategic exits and the enforcement of a drag against a shareholder who has decided not to sign.
Experience
The matters below are described without identifying the client, unless the client has consented in writing to being named.
